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.
Used car prices hit a record high this summer according to recent data from the business and research firm Cox Automotive. Economists there found car prices for July, which is usually a slow month, were up 5.1 percent from the same month last year. Why is this happening? Click the audio player above to hear the […]