Used Car Price Bubble Predicted To Pop Soon

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Bad news for everyone who bought high…

Thanks in large part to the shortage of automotive microprocessor chips, there’s been a shortage of new cars in the past year, driving used vehicle prices sky high. In some extreme cases, this has resulted in some trucks, SUVs and even cars which are only a few years old selling for more than they did when brand new, leaving many shoppers in extreme sticker shock. While some have shelled out for the higher prices for a number of reasons, others have decided to hold out until sanity returns to the market. It looks like the price inflation bubble popping is now on the horizon, bringing both good and bad news, depending on where you sit.

Learn why a guy blew up his Tesla here.

Per a recent report from Automotive News, analysis of data collected

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Used car price rises not letting up as predicted, and the peak hasn’t come yet

Car for sale

Used cars aren’t the best deal at the moment.

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It remains a poor time to be in the market for a new car. Or a used car. According to an Automotive News report on the latest data from Cox Automotive on Monday, wholesale used car prices rose to record highs this past September. In turn, that means the prices dealers charge used car buyers also continue to rise.

Year-over-year, wholesale prices are up 27% compared to September 2020. From August, September saw prices climb 5.3%. The increases coincide with continued difficulties for automakers to build enough cars to meet people’s demands. The semiconductor chip shortage, according to the most recent estimates, may not start to stabilize until sometime next year. And only in the first half of 2023 may the industry enter an actual recovery phase. Without enough chips, carmakers will remain stuck as buyers won’t be

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