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The used vehicle market is unusually hot going into the summer.
Used car and truck prices increased 10 percent …
Good Subscriber Account active since The used vehicle market is unusually hot going into the summer. Used car and truck prices increased 10 percent in April and 7.3 percent in May, the highest of any consumer spending category included in the government’s measure of inflation. Like the housing market, a lack of supply and a lot of demand is causing prices to soar to new records. Average used-vehicle prices topped $22,500 at the start of May, and are showing no signs of coming down any time soon. « If you have a car to sell, there’s never been a better time, » said Pat Ryan, the CEO of CoPilot, a personalized car-shopping service. « Dealers will pay incredible prices. » Of course, there are a few caveats to consider before rushing off to find a buyer, namely whether you need to replace the car, or if you’re trading it in for a new one.
