Used car markets in ‘uncharted territory’ as high prices remain sticky, Edmunds says
With the spring car-buying season in full swing, those looking for a deal in the used-car market are not likely to find one.
According to a new report, “Used Market Enters Uncharted Territory Post-Pandemic,” released from car-shopping site Edmunds.com, though used car prices softened a bit recently they still remain historically high. Edmunds’ data scoured from dealer retail pricing finds that the average used vehicle transaction price in Q1 slipped 6.4% year-over-year, but is still up 44% from five years ago.
“After experiencing a meteoric rise in value, used-vehicle prices have slightly inched back toward Earth with the return of…
