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Blog Category: NADA

Used Car Prices Dropping

Used Cars

After a dramatic rise in used car prices in recent years, it appears that these prices have now started a slow downward trend, according to a report by NADA.  Over the past three years, used car prices had soared, growing nearly 20% since 2009. The main reason for this run-up was simple supply and demand. Because of poor new car sales due to the economic recession, the demand for used cars increased. But the lack of new car sales also meant fewer trade-ins, thus less used car supply. Less supply + more demand = higher prices.