Home » Economy » Used cars costing consumers $10,000 more than 'normal' as inflation rages
Used cars costing consumers $10,000 more than 'normal' as inflation rages
Four stocks that will add inflation protection to your portfolio
Independent Advisor Alliance CIO Chris Zaccarelli discusses if the Fed’s efforts to reduce inflation are working on ‘The Claman Countdown.’
It's a bad time for consumers looking to buy a used car.
Prices for used vehicles have skyrocketed over the past two years, with consumers shelling out an average of $10,046 more than they would under normal market conditions, according to a new analysis conducted by CoPilot, an online car-shopping app.
The average listing for a used vehicle climbed to $33,341 in June, a 0.5% increase from the previous month. That is just $200 below a previous peak recorded in March. If depreciation forecasts are accurate, the average price for a used vehicle would actually be around $23,295.