From August 2019 to August 2022, used-car prices increased by 52 percent, while new cars increased by 29 percent. And with soaring interest rates, it was challenging for many Americans to afford a new, let alone a used vehicle. Looking for options to buy a car became vital. Founded in 2012 and based in Arizona,…
Electric Cars to Become Affordable in UK by 2030 as Second-Hand Market Grows, Expert Says
A prominent motoring journalist has said that the price of buying an electric car will fall between now and 2030—when the government plans to ban the sale of new petrol and diesel cars—as the second-hand market grows. Richard Ingram, editor of carbuyer.co.uk and drivingelectric.com, told The Epoch Times: “Ultimately, I think we need to bide…
Buying Wisely in Today’s Frenzied Used Car Market
New car shortages have put pressure on the used car market. Although used car prices are settling down, they’re still 22 percent higher than in 2021. And according to the consumer price index, as of June 2022, used car prices were over 44 percent higher than in the first quarter of 2020. Buying a vehicle has…
Midwest Cities Among 50 Hardest Hit by Increased Used Car Prices
Buying a used car in the Midwest got a little more affordable in May over the previous month. The good news is that year-over-year price increases in used vehicles in May dropped seven percentage points from the year-over-year April price increases, from April’s 23.9 percent to May’s 16.9 percent. The bad news is a used…
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