The drop in used-car prices might have been temporary. What to expect as spring buying season gets under way

The Palm Beach-area resident started car shopping in December, hoping to find good prices on new cars languishing on the lots at the end of the year.

Levine turned to the used-car market, finally landing in February on a used dark gray 2020 Mercedes E Class with 6,300 miles on it, feeling OK about paying less than $50,000 for it. Used-car prices peaked around April 2022, and they have been trending slightly lower, said Jessica Caldwell with Edmunds.

According to Edmunds, the average price of a used car was $28,106 this year, up 38% from an average of $20,409 in January 2020.Don’t miss: Tesla stock sinks nearly 7% after ‘muted, at best’ reaction to Elon Musk’s ‘Master Plan 3’ Rivian Automotive Inc. RIVN last week reported mixed quarterly results and announced weaker production guidance, pinning those on manufacturing snags.

Just wait for the next 6 months - this is going to be bad …..

The hell?

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