Everything is getting more expensive, and that includes used cars. Prices spiked during the COVID-19 pandemic and only started to fall last year. However, new data indicates used car prices are definitely beginning to creep back up. The average one- to five-year-old used vehicle sold for $32,317 last month.
That’s up 2.0 percent compared to May 2024, or $630 on average, according to the new iSeeCars report. That might not seem like much, but average used car prices increased by 1.0 percent and 1.8 percent in March and April, respectively, indicating an upward trend after a year of steady decreases. The average used car sold for $29,651 in December 2024.
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