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Used Cars

Car prices are still stubbornly high

by Kristin Schwab
Aug 21, 2023
$20,000 used to be the starting point for a new car. Now there’s only one remaining model on the market that sells for around that figure … the Mitsubishi Mirage.
More consumers and carmakers are focused on bigger, more expensive cars. And with the pandemic chip shortage, the average price of a vehicle has ballooned to $50,000.
Mario Tama/Getty Images
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Why are used car prices still so high?

by Stephanie Hughes
Jun 13, 2023
The microchip shortage of recent years put the brakes on the production of new cars. That's making for a low supply of used cars now.
While used car prices are down from their pandemic peak, they're still about 40% higher than before COVID, according to government data.
Mario Tama/Getty Images
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Buying a new or used car is easier now, but getting a loan is becoming harder

by Justin Ho
Apr 24, 2023
Lenders are worried about increasing defaults.
People look to buy a car at a dealership in New Jersey.
Spencer Platt/Getty Images
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In the market for a used car? There's some good news.

by Samantha Fields
Dec 13, 2022
Prices are 3.3% lower than they were a year ago, and have been dropping every month for the last five months. Here's why.
Despite a gradual decrease in price, used cars are still a lot more expensive than they were a couple of years ago.
Mario Tama/Getty Images
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Buyer beware: some used vehicles coming on the market could have been flooded in Hurricane Ian

by Samantha Fields
Oct 3, 2022
Experts say it is worth looking up a car's history before buying.
A car sits in floodwater after Hurricane Ian on September 29, 2022 in Orlando, Florida.
Gerardo Mora/Getty Images
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Looking for a used car? You might have better luck ... soon.

by Savannah Maher
Jul 21, 2022
Prices are still high, but demand is slackening and inventory is catching up, AutoNation reports.
Used car prices are up more than 40% since before the pandemic, says Michelle Krebs of Cox Automotive.
Justin Sullivan/Getty Images
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After a wild year, the used-car market may be returning to normal

by Samantha Fields
Jul 20, 2021
Inventory is rising as people sell extra vehicles to take advantage of high prices and dealerships make enticing trade-in offers, experts say.
The number of available used cars for sale is creeping back up after low inventory. Prices for the vehicles may peak this month.
Jim Watson/AFP via Getty Images
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A used car can now cost you more than a new one

by Amanda Peacher
Jul 12, 2021
While many new-car assembly lines are backed up, older cars are available, and they're fetching premium prices.
Availability is part of the equation that has boosted the prices of some used-car models.
Justin Sullivan via Getty Images
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Consumer prices jump, especially for cars, flights and other ways to get away

by Sabri Ben-Achour
May 12, 2021
Inflation data shows that consumer prices went up 4.2% year over year — the most since 2008.
Car-rental prices have leaped, registering a 16% monthly increase in April. Consumer prices overall rose 4.2% year over year, outpacing forecasts.
Joe Raedle/Getty Images
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Rental-car companies crash used-car auctions to find scarce vehicles

by Scott Tong
May 4, 2021
The price of used vehicles is up 32% since January.
Rental rates and the prices of used cars could remain high over the summer.
Cindy Ord/Getty Images
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