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Used car prices soaring to record highs amid production and rental car disruptions

If you re looking for a used car, brace yourself for a tough road ahead. It s going to be harder to find exactly what you want, and it s likely going to cost more. Some used car dealerships in Northwest Indiana have had their lots stripped clean during the coronavirus pandemic, while new car dealerships have been selling more and more used cars while they wait on more new inventory to arrive. The coronavirus pandemic has caused a worldwide semiconductor shortage that s disrupted the production of new vehicles and played havoc with how car rental companies normally resupply the used car market. Used car prices have been soaring, and pre-owned vehicles — whether gently used or well-worn — are in tight supply.

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