Why Are Used Car Prices So High Right Now?
Download MP3๐ Episode Show Notes / Description:
- Used car values spiked in 2019 and 2020 and remained high for years.
- While prices cooled a bit recently, they never truly dropped โ just less dramatic.
- In the last 30 to 60 days, prices are surging again.
- Main reason: Anticipated tariffs affecting both supply and price of new vehicles.
- Dealers and buyers are rushing to make purchases before tariffs hit โ increasing demand for used cars.
- If you're trading in a car, this may be the best time to do it.
- You may now get more value for your trade-in than just a month ago.
- This could help reduce or eliminate negative equity if youโre underwater on your current vehicle.
- A car previously worth $20,000 might now be worth $21,000โ$22,000 โ a difference that matters.
- If you're planning to buy, sell, trade-in, or broker a used vehicle, reevaluate your options today.
- The used car market is changing rapidly โ even week to week.
- Want guidance? Live one-on-one consultations with certified experts are available.
- Need help with lien releases or auto short sales? Check out the link in the show notes for more info.
- Explore other helpful videos on our channel about car buying, financing, and market trends.
