Used car prices dropping rapidly in US

[poker]

https://www.cnn.com/2023/01/16/business/used-car-prices/index.html

 

[Goodoer]

I like new cars as much as anyone, but from a financial perspective, people are crazy to buy a new vehicle. Better for the environment too.

 

[oil&gas]

Drop in used car prices could be a result of people switching to
public transportation. Maybe climate deniers are finally waking
up to the climate crisis. Hopefully plunge in new car prices is to
follow as people finally come to their sense.

 

[bestseller87]

As the article says the microchip shortage for car manufacturers created a shortage in new vehicles, hence the demand of used increased, and prices went up.

Here in Canada prices in used cars were high. Even after buying an used car the dealer sent emails with offers to buy after few months.

It seems there will be a good time to find some good deals.