Used car prices spiking

 

Source: Nathan Bomey, USA Today

If you were hoping to find some savings during the COVID-19 pandemic, you won't find them in the used-car market, unfortunately.

“It’s a seller’s market right now," said Ivan Drury, Edmunds’ senior manager of insights. "Although used vehicles continue to offer significant discounts compared to new, used-car shoppers will find themselves in the unusual position where they might not have as much negotiation power because demand is so high and dealers will be less inclined to be flexible."

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