A recent Consumer Reports survey revealed that 40% of current car shoppers are looking exclusively at used cars. Now, industry analysts are seeing survey answers turn into aligned purchase data. According to Cox Automotive, in August, sales in this category increased by 8% over July. Strikingly, last month resulted in the highest reported used car sales estimate since October 2021.

1.7 million used cars sold in the U.S. market last month, a 13.6% increase over the same time last year.

Scott Vanner is a senior analyst of Economic and Industry Insights at Cox Automotive. “Used retail sales picked up steam in August as affordability in the used market improved slightly,” he said in a market insights report released by the group on Monday. “The increase in sales is partly attributed to the change in inventory mix, with a notable rise in units sold priced under $15,000 in August.”

What’s so “notable” about lots of people buying cheap used cars?

Well, it could be a decent reflection of the consumer appetite for the increasing expenses associated with car buying and ownership.

This year, CarEdge says the average new car price is about $48,000. By the same token, LendingTree reported that the average American new car payment is over $700. What’s more, many Americans are either already facing or bracing for increased full-coverage car insurance premiums. In Louisiana, for example, the average full-coverage policy costs residents over $3,600 annually.

The bump in lower-dollar used car sales may very well indicate consumer “intolerance” over financial pressure as it relates to the new vehicle market.

As buyers snatch up used cars under $15,000, inventory might become an issue as the year moves on. If you’re on the hunt for one, too, check out MotorBiscuit’s seamless car buying tool to compare prices and find the best deal near you.