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If you're looking for a used car, be prepared to spend a lot more money right now in Minnesota.

To say prices on used cars are skyrocketing right now in the Land of 10,000 Lakes might be a bit of an understatement. And even though the average price of a pre-driven car decreased slightly in March compared to February, prices are still way higher this spring than they were a year ago.

According to this new ISeeCars survey, prices on used cars right now are, on average, over 30 percent higher right now than they were in 2021:

Used car prices rose 30.4% nationally in March as the microchip shortage continues to impact the automotive industry. This is down from a 35.0% increase in February. Smaller cars and hybrid/electric vehicles are in high demand as a result of record gas prices.

Specifically, here in the North Star State, average used car prices are running 30.6% more in 2022 than they were last year, and cost an average of $8,000 more right now than they did in 2021!

What's behind those big increases? Well, used cars are more in demand because the supply of new cars is also scarce due mainly to ongoing 'supply chain' issues which have been making microchips scarce. The ongoing war in Ukraine is also having an effect, ISeeCars noted, because Russia is a key supplier of materials used to make car parts and microchips.

Here are the Top Five Used Cars With the Greatest Price Increases in Minnesota

1. Mercedes-Benz C-Class - Up 54.7% for an increase of $15,738

88th Geneva International Motor Show Press Days
Mercedes-Benz C-Class - Up 54.7% for an increase of $15,738 (Robert Hradil/Getty Images)
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2. Nissan Sentra - Up 46.5% for an increase of $6,310

LA Auto Show Previews New Models From Top Manufacturers
Nissan Sentra - Up 46.5% for an increase of $6,310 (David McNew/Getty Images)
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3. Hyundai Elantra - Up 45.6% for an increase of $6,075

LA Auto Show Previews New Models From Top Manufacturers
Hyundia Elentra - Up 45.6% for an increase of $6,075 (David McNew/Getty Images)
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4. Volkswagen Jetta - Up 45.6% for an increase of $6,910

New York Auto Show Media Preview
Volkswagon Jetta - Up 45.6% for an increase of $6,910 (Ramin Talaie/Getty Images)
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5. Hyundai Sonata - Up 44.9% for an increase of $7,101

Chicago Hosts The City's Annual Auto Show
Hyundai Sonata - Up 44.9% for an increase of $7,101 (Scott Olson/Getty Images)
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