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$20,000 used to be the starting point for a new car. Now there’s only one remaining model on the market that sells for around that figure … the Mitsubishi Mirage.
The microchip shortage of recent years put the brakes on the production of new cars. That’s making for a low supply of used cars now.
Lenders are worried about increasing defaults.
Prices are 3.3% lower than they were a year ago, and have been dropping every month for the last five months. Here’s why.
Experts say it is worth looking up a car’s history before buying.
Prices are still high, but demand is slackening and inventory is catching up, AutoNation reports.
Inventory is rising as people sell extra vehicles to take advantage of high prices and dealerships make enticing trade-in offers, experts say.
While many new-car assembly lines are backed up, older cars are available, and they’re fetching premium prices.
Inflation data shows that consumer prices went up 4.2% year over year — the most since 2008.
The price of used vehicles is up 32% since January.
