During the pandemic, the prices of used vehicles rose so sharply that that factor alone was a leading cause of inflation in the U.S. Now, we’re starting to understand the real-world implications of that on consumers.
For example, take the affordable used car. Once a fixture of the used car market, in 2019 about half of one- to five-year-old cars cost less than $20,000, and those vehicles tended to have between 37,000 miles (at the higher-price end of the spectrum) and 72,000 miles (for sub-$10,000 vehicles).
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