Price of used cars drops sixth straight month, falling 8.8% in a year

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After rocketing early in the pandemic, the cost of used cars dropped 8.8% year-over-year from December 2021 to December 2022, according to the Consumer Price Index.

 

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Earlier in the pandemic it was new cars that were going for a 'supposed steal',so mutually beneficial exchanges & engagements of Americans acting in the free market,always makes it so that Americans on all sides of exchanges come to benefit irrespective of the sector or industry

It's about interest rates, same as the housing market. When the cost of financing something turns buyers away, the market is going to go soft.

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