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Used Car Prices Have Risen an Average of 36.9 Percent Across the Country
Kelley Blue Book (KBB), the gold standard in automobile valuation, recently released data showing the average used car cost $25,499 in October compared to $48,623 for new cars.
Not anymore: the average price of a new car in the U.S. has skyrocketed to $50,000 — just $9,000 less than the average annual salary. ... pushing many buyers toward used cars.
Used car prices in the U.S. have fallen since their highs during the peak of the pandemic, but prices are still erratic, and affordability of a used vehicle largely depends on location. A new study...
A used car, a pre-owned vehicle, or a secondhand car, is a vehicle that has previously had one or more retail owners. Used cars are sold through a variety of outlets, including franchise and independent car dealers , rental car companies, buy here pay here dealerships, leasing offices, auctions, and private party sales.
Data from Experian shows the average monthly payment for a used car is $523, while the average cost of a new car is $735 per month. Which means buying a used car could mean spending $200 less per ...
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