Used cars: Here's how higher prices hurt consumers - USA TODAY

Paying top dollar for bigger, more expensive SUVs and trucks, not surprisingly, is forcing drivers to hand over more than ever each month to cover their car payments. Drivers who bought vehicles late last year paid a record average of $644 a month for their loan payments in the fourth quarter last year, according to … See more

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Used Cars: Here's How Higher Prices Hurt Consumers - USA TODAY

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Used Cars Cost 40.5% More Than Last Year - USA TODAY

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Feb 14, 2022 · It's a bad time to buy a used car.And a great time to sell one. According to data released by the U.S. Bureau of Labor Statistics on Thursday, the consumer price index for …

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Over Half Of American Households Priced Out Of Used Car Purchase

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Jan 3, 2022 · The price of used cars around the United States is skyrocketing. Automobile website Edmunds reported that the average cost of a used vehicle in November was $29,011, …

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Used Cars Are A Lot Cheaper Now - And This Is The Big Reason Why

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Aug 14, 2024 · Consumer prices rose modestly in July mostly on housing costs, but among the items showing declines were prices for used cars and trucks, which were down 10.9% year …

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Car Prices : Used Vehicle Costs To Rise Due To Computer ... - USA …

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Mar 26, 2021 · Wholesale used vehicle prices rose 3.74% in the first 15 days of March compared with average prices for the full month of February, according to Cox Automotive’s Manheim …

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Used Car Prices Are Dropping: What That Means For Car Buyers

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Feb 1, 2023 · According to Edmunds, the average interest rate for a used-car loan grew from 8.76% in July to 10.25% in December. As loan rates become more expensive, consumers who …

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Are Used Car Prices Going Down? Not Soon Enough On Many …

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Feb 19, 2022 · The average used car sold for nearly $30,000 in January, a 30% hike from two years ago. Older models haven't fared much better: The average price for a nine-year-old car …

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Used-car Trade-in Values Soar: Used Car Prices Up Amid Chip

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Apr 27, 2021 · The average list price for used cars in March reached $21,343, up more than $2,000 from a year earlier, according to Cox Automotive, which owns Kelley Blue Book and …

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FAQs about Used cars: Here's how higher prices hurt consumers - USA TODAY Coupon?

Why are used car prices so high?

Those vehicles will reflect the higher prices dealers have faced since February, Ryan said. In the last four weeks, CoPilot data show the average used-car price has risen by $700 and now tops $40,000. Delinquencies rise: On the heels of the pandemic, borrowers with low credit are falling behind on car loans ...

How has the price of used cars changed in a year?

That means within a year, the average price of used cars and trucks for urban consumers has gone up by 40.5%. The number of used car transactions has also grown, according to AUTO1, a used-car marketplace. In the past year, the marketplace had approximately 330,000 vehicle transactions, AUTO1 told USA TODAY. ...

Are used car prices going up?

Deepening the shortage, fewer used vehicles are coming off leases or being off-loaded by rental car companies. Average list prices for used car have edged up by about $700 in the past month, and Alex Yurchenko, chief data officer for Black Book, which tracks prices, expects them to keep rising at least into summer. ...

How has the used car market changed over the past year?

The number of used car transactions has also grown, according to AUTO1, a used-car marketplace. In the past year, the marketplace had approximately 330,000 vehicle transactions, AUTO1 told USA TODAY. Bleak as the market is for used-car buyers, the computer chip shortage has also driven new-vehicle prices higher. ...

How many used cars are sold in the US?

In the past year, the marketplace had approximately 330,000 vehicle transactions, AUTO1 told USA TODAY. Bleak as the market is for used-car buyers, the computer chip shortage has also driven new-vehicle prices higher. The average new vehicle, Edmunds.com says, is edging toward $46,000. ...

Will the used car market improve this year?

But inventories have yet to reach pre-pandemic levels, and consumers still miss the buying power they had in 2019.While experts say this year’s used-car market will continue to improve, consumers need... Used Car Prices Are Dropping: What That Means for Car Buyers | Nasdaq ...