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Why Falling Used Car Prices Aren't the Bargain You'd Expect. Story by The Truth About Cars Staff. • 13m • 2 min read. Markets today. INX ‎ -0.25% ‎. DJI ‎ +0.11% ‎.

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Jonathan Banks said he expects used-vehicle prices will fall more than they did in 2023. Jonathan Banks, J.D. Power vice president of product development and valuation services. Used-vehicle.

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Used cars are still fetching above 'normal' prices. Table with 2 columns and 3 rows. Currently displaying rows 1 to 3. In the 4- to 7-year-old range, the average price is $29,400, an amount that.

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02:29 - Source: CNNBusiness. 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.

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Used-car prices have fallen after surging in 2021, with a recent drop of more than 3%, according to U.S. Bureau of Labor Statistics data.The average used car sold for $27,156 last month, a 1.5%.

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The index, which monitors wholesale prices of used cars sold at auction, declined to 215.1 in the same month, down 10.3 percent from a year before. It's a big chance for the sector after used car.

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The disruptions in the car markets in 2020 and early 2021 could affect used car prices much of the year. "We are entering a period of tight supply on 3- and 4-year-old vehicles, which make up.

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Luxury cars saw the biggest decrease in average used car price over the last year. Luxury vehicles saw the biggest drop among all vehicle types, with prices falling 13.6%. The next category of.


Used car prices are falling, but let's not forget where we're at, and where we've been. Black Books' 2022 Year in Review puts used car prices into perspective remarkably. "The average wholesale price of a 4-year-old vehicle at the beginning of the pandemic in January of 2020 was about $13.5k. At the end of December 2022, the average.

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As new-car production improves, demand for used cars will ease up and prices will continue to fall in the new year. The firm estimates that used-car prices will drop 10%-20% in 2023; new cars, on.

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Used car prices have started to fall after experiencing a meteoric rise in the wake of the pandemic, according to a recent study. The price of the average used car fell by 2% in November 2022 and.

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Quick Facts About the Car Buying and Selling Marketplace. New car prices have fallen a remarkable 3.5% in the last year.; Used car prices fell further, now down 4%.; Interest rates are falling.

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The good news is that, in general, prices have been on the decline since late 2022. In May 2022, the average selling price of a vehicle was about $721 over MSRP. Compare that to July 2023, when.

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It isn't news to anyone who has shopped for a used car in 2023: Used-car pricing has soared to record highs. According to the U.S. Bureau of Labor Statistics, its used car index, which tracks used car prices, has risen by well over 40% from December 2019 to October 2022, though overlapping with that time frame, they've began a steady fall.

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SUVs were among vehicles posting the biggest annual price declines, falling 16.6%, while midsize cars fell 15.8% and luxury cars fell 15.2%. The release, which dates back to the late 1990s, marks.

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Pickup Trucks, down 11.2%. Hybrids & EVs, down 10.7%. Vans & Minivans, down 10.1%. SUVs, down 10% even. The remaining two categories, Cars and Luxury Cars are also down (8.7% and 5.9%, respectively, since May's peak), but cars have always been the least-expensive vehicles on the Used Car Index, so they had a shorter distance to fall.