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Updated: 7:35 PM EDT Apr 21, 2021 By Chris Isidore, CNN Business Video above: Demand for used cars high due to new car shortagesCar dealer lots have only a fraction of the vehicles that they typically have both new and used. It s helping send prices to record levels.The average new car price was $37,200 in the first quarter, according to JD Power, up 8.4% from the same period just a year ago.About half of car buyers are paying within 5% of the sticker price, according to JD Power stats, with some even paying above sticker. About two million more car buyers this year will end up paying that close to sticker price than a couple of years ago.Wholesale prices for used cars sold at auction are up 26% since the start of this year, according to other data from JD Power. Retail used car prices are up a more modest 7% in the same period. That s also a significant jump for this time of year, and the higher wholesale prices are pointing to bigger increases on the way. That p

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