Why are used automotive costs so excessive? You may blame lots of the identical causes that drove up the costs on new automobiles. Now, some used fashions outprice the identical model of a model new car.
- The common used automotive offered for practically $30,00zero in January, a 30% hike from two years in the past.
- Older fashions have not fared a lot better: The common value for a nine-year-old automotive is up 43%.
- However discovered 10 used automotive fashions whose resale value in 2022 will actually offer you sticker shock.
For used automotive consumers, it’s grim on the market.
It was once that dreaded sticker shock got here from the costs of latest automobiles. Now used automotive costs are simply as unhealthy.
How unhealthy? The common used automotive offered for $29,594 in January, up from $22,676 final yr, a 30% enhance, Edmunds.com studies.