You knew used car prices were high. Here's how outrageous it has become

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Are used car prices going down? Not soon enough on many makes, models

Why are used car prices so high? You can blame many of the same reasons that drove up the prices on new cars. Now, some used models outprice the same version of a brand new vehicle.

  • The average used car sold for nearly $30,000 in January, a 30% hike from two years ago.
  • Older models haven’t fared much better: The average price for a nine-year-old car is up 43%.
  • But found 10 used car models whose resale price in 2022 will really give you sticker shock.

For used car shoppers, it’s grim out there.

It used to be that dreaded sticker shock came from the prices of new cars. Now used car prices are just as bad.

How bad? The average used car sold for $29,594 in January, up from $22,676 last year, Edmunds.com reports. That’s a 30% increase in two years.

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