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Used-car prices surpassed $25,000 for the first time. Here’s how to still snag a good deal

By Elisabeth Buchwald

Don’t sit on a used car deal, if you’re lucky enough to find one since it will likely disappear, car experts told MarketWatch.

Car salespeople are in the driver’s seat, especially in used-car dealerships where the marker is hot — and it doesn’t show signs of cooling any time soon.

Last month, the average price of a used car soared to an all-time high of $25,463, according to research firm J.D. Power. That’s more than $2,000 the average used car price was in April of last year, and it’s the first time the average price of a used car has exceeded $25,000.

“The used vehicle market continues to be red hot and prices remain at record levels. This isn’t going to change in the foreseeable future,” Jonathan Banks, vice president of vehicle valuations at J.D. Power, said in a statement.

Retail sales for new vehicles were expected

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‘If you have an extra car to sell, there may never be another time greater than this’

The used car market is booming.

The average cost of a used car or truck has surpassed $20,000, a 10% increase over the past 12 months.

The surge may not be slowing down anytime soon due to low supply and high demand issues in the automobile industry. Cox Automotive, which owns Kelley Blue Book and Autotrader.com, estimates that demand for used vehicles has doubled since last March.

Rental car companies struggled in 2020 because of the pandemic and as a result Hertz
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Enterprise and others bought fewer new cars — and sold more of their existing fleets. In addition, recent production issues for many automakers, and an influx of federal stimulus checks to Americans, caused used car prices to spike.

“If you have an extra car to sell, it’s a great time — there may never be another time greater than this,” Eric Ibara, director of

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Petersen Automotive Museum welcomes back car enthusiasts for 1st time in months

LOS ANGELES (KABC) — Car enthusiasts, rejoice. The Petersen Automotive Museum on Thursday welcomed back guests after being shut down for months.

Those who are looking to visit will be required to have a reservation in advance as the museum can only operate at 25% capacity. Admission is free for first responders and health care workers through the year.

The museum will also have several safety protocols in place, including a face mask requirement and sanitation stations throughout the venue. Guests will also be offered a stylus, which can be used on things like elevator buttons, to enhance a touchless experience.

Operations manager Lincoln Ramirez told Eyewitness News the museum is excited to be able to open its doors and show off four new exhibits.

The museum actually reopened last June, but that didn’t last long due to changing state and local COVID-19 restrictions. It had to close 14

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Watch the New BMW M4 Rip to 140 MPH in No Time

Automotive media is getting its hands on the new BMW M3 and M4, and while reviews—including ours—are coming a little later, we can at least enjoy clips of the car now. France’s Motorsport Magazine had its hands on an extremely yellow M4 Competition and an empty race track with a long straight. What happened next is fairly predictable.

The magazine ran the car up to 141 mph, and it really didn’t take long to get there. No surprise when the M4 Competition has 503 hp, and a quick-shifting eight-speed automatic gearbox. Motorsport uses launch control here, and the car automatically starts in second gear, seemingly to limit wheelspin. The new M3 and M4 will be offered with all-wheel drive for the first time, but not for another few months.

This is also our first good sound clip of the new M4 and while it’s nice to see that it

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