I feel like people buying cars today (be it used or new) would benefit from market research like this. The overall feeling of the used car market is down in all categories over the past year.
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Can someone ELI5 this for me? Are used car prices finally correcting? Can I finally retire my shitbox from daily driver status?
It’s beginning to heal.
The Used Price Index is an average of the prices of the used car market. No one knows where prices will go, but they are trending downward right now.
Technically speaking, this data says nothing about new cars. But new car prices are correlated somewhat to the used car market. If people think a used car is a better deal, they’ll stop buying new cars after all.