Why Are Used Cars So Expensive Right Now 2024. Even in the greatest of conditions, used automobile sales may fluctuate yearly. Right now, the answer is interest rates.
The pandemic has thrown the auto industry completely out of whack. A supply crunch in new cars is spurring demand for used models.
Let’s Look At The Data.
The average cost of used cars and trucks jumped 10% during the month of april and 21% from the same month a year before, partly fueling a 4.2% increase in the.
It’s Fair To Say That Used Car Prices Are Stable In May.
Simply put, new cars are getting pricier, and as new car prices rise, so do those for used cars.
Wondering Why Used Cars Are So Expensive Right Now?
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While They’re Down From Their Peak During The Pandemic, Used Car Prices Are Still About 40% Higher Than Before Covid, According To The Bureau Of Labor Statistics.
The reason why cars are so.
The Average New Vehicle Costs Nearly $49,000, An Almost $10,000 Increase From Before The Pandemic.
There’s good news and bad news for car shoppers and car owners in 2024:
Simply Put, New Cars Are Getting Pricier, And As New Car Prices Rise, So Do Those For Used Cars.