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Used car prices set for drop off in a truce for buyers

Used car prices set for drop off in    a truce for buyers

Sara soon be a better time to check out a used car, second new data.

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it’s not a great time to buy a new car, though “new car”comes from a used car lot. soaring demand and low inventory due to push chip shortage Used car prices close-new vehicle costs, but that train of gravy for retailers can soon reach its stop. According to latest data from Cox Automotive, which Bloomberg wholesale auction prices have reached a tipping point on Thursday with a likely price spike in the rearview mirror now. In turn, used car prices for buyers should start downward trend in weeks to come.

Throughout June, according to data, wholesale auctions where dealers dealer purchase and sell vehicles in mass tended to fall. Although the wholesale values ​​are still well above the “normal” figures, they registered a 14% drop compared to the month of April. Hence, the wholesale values ​​were 50% higher. According to the report, in mid-June they dropped to 36%. The decrease in the value will probably delay a few weeks earlier than buyers start to see the price decreases in dealership lots.

How for new car prices, there is no indication that the chip shortage will leave up just yet. Car manufacturers continue to struggle filling retailers with new inventory like car shoppers flock to put in new car in the driveway. The transaction media price for last month continued to hover approximately $ 38,000.

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