A small victory: Used-car prices slip from their dizzying heights
By Tom Krisher and Mike Householder/The Associated Press 12 hours ago
DEARBORN, Mich. For months, anyone who wandered onto a dealer lot to look for a used car could be forgiven for doing a double take and then wandering right off the lot.
Prices had rocketed more than 40 percent from their levels just before the viral pandemic struck, to an average of nearly $25,000. The supply of vehicles had shrunk. And any hope of negotiating on price? Good luck with that.
But now, a sliver of hope has emerged. The seemingly endless streak of skyrocketing used-vehicle prices appears to be coming to a close.
AP Story
talkradio1170.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from talkradio1170.com Daily Mail and Mail on Sunday newspapers.
AP Story
talkradio1170.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from talkradio1170.com Daily Mail and Mail on Sunday newspapers.
DEARBORN, Mich. (AP) â For months, anyone who wandered onto a dealer lot to look for a used car could be forgiven for doing a double take â and then wandering right off the lot.
Prices had rocketed more than 40% from their levels just before the viral pandemic struck, to an average of nearly $25,000. The supply of vehicles had shrunk. And any hope of negotiating on price? Good luck with that.
But now, a sliver of hope has emerged. The seemingly endless streak of skyrocketing used-vehicle prices appears to be coming to a close.
Keep scrolling to find out the cities where your dollar goes the furthest.
Updated July 21
Used-car prices slip from dizzying heights
But while demand has eased a bit, a steady flow of buyers could keep prices unusually high for a couple of years more.
By TOM KRISHER and MIKE HOUSEHOLDERAssociated Press
Share
Jessica Pitts sits behind the wheel of a 2019 Lincoln MKC on the lot of Jack Demmer Lincoln in Dearborn, Mich., on Monday. Pitts bought the used car at the dealership after the price was reduced a little.
Mike Householder/Associated Press
DEARBORN, Mich. For months, anyone who wandered onto a dealer lot to look for a used car could be forgiven for doing a double take – and then wandering right off the lot.