Why used cars are so expensive now — and when prices may drop

Jul 12, 2021 · Why used cars are so expensive now — and when prices may drop. Tim Levin. …

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Used-Car Prices Are Falling, Especially Among EVs

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Dec 3, 2024 · For example, if you have to borrow $15,000 for a used SUV that will be worth …

consumerreports.org

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Used Car Prices Stabilize As Used EV Prices Continue To Fall

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1 day ago · Used car prices have settled around $30,000 even as used EVs fall below …

yahoo.com

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Affordability Crisis: ‘Alarming’ New Car Prices Push Buyers Toward …

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1 day ago · This year, used car sale prices fell slightly to $30,377 in the Bay Area, while new …

gmtoday.com

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Four Market Trends To Track If You’re Thinking About Buying A Car …

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Dec 17, 2024 · Electric vehicle prices are up 1.4% year-over-year, but dealers have general …

investopedia.com

FAQs about Why used cars are so expensive now — and when prices may drop Coupon?

Are used car prices getting more expensive?

Car buyers got a rude surprise on used car prices yesterday. April's Consumer Price Index report revealed that used vehicles are getting more expensive again after an uninterrupted decline since July 2022. Here's what happened, and what buyers can expect next. ...

Why are car prices falling?

Experts say reasons for the decline include higher interest rates that make it more expensive to finance a car purchase, limiting demand. CarMax (KMX), the nation’s largest pure used car dealer, has warned that the combination of high prices and high interest rates is creating an affordability problem for many buyers, hurting overall demand. ...

Are used cars cheaper than last year?

Used cars are more than 10% cheaper than last year, mostly thanks to rising inventories of new cars and discounts on those vehicles to move them off of lots sooner. 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 over year. ...

Are used car prices going up or down?

In most used-car segments, we’re starting to see prices go up, but one category is still dropping: used Pickup Trucks. Their average price on Carfax.com is down about $2,700 from a year ago, and $700 down just since June! ...

Why did car prices drop in May?

Car prices dropped in May for the first time since December. Wholesale car prices declined, suggesting that demand and supply are on a path toward some kind of equilibrium. Retail prices are expected to follow suit, and shoppers may notice prices on car lots gradually dropping by the fall. ...

How much does a used car cost?

Data from Edmunds shows the average price of a used car purchase in December at $29,533, down nearly $1,600 from the record high of $31,095 reached in April 2022. Today’s average used car price is about the same as the average new car price as recently as 2010. ...