Automobile

Used Car Prices Are About to Go Down, But When? | MotorBiscuit

Once-in-a-lifetime circumstances have created a used car market with unprecedented prices. Supplies are low, and demand is at a record high. The news isn’t all bad, though. Recent trends in automotive pricing suggest used car shoppers may soon get relief from soaring prices. 

A historic used car market

Used Cars | Justin Sullivan via Getty Images

The used car market, like all other industries, was hit hard in 2020. Rental agencies sold off fleets that were once a significant source of pre-owned inventory. Superconductor shortages killed new car inventories, so owners are holding on to their pre-owned cars longer. 

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