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$29,000 For An Average Used Car? Would-Be Buyers Are Aghast

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A dealership sign is seen outside of Honda certified used car dealership in Schaumburg, Ill., Thursday, Dec. 16, 2021. Prices for used cars have soared so high, so fast, that buyers are being increasingly priced out of the market. (AP Photo/Nam Y. Huh)

(AP) — Prices for used cars are soaring so high, so fast, that buyers are being increasingly priced out of the market.

Edmunds.com says the average price of a used vehicle in the United States in November was more than $29,000. That’s a dizzying 39% more than just 12 months earlier. More than half of America’s households have less income than they’d need to buy the average-priced used vehicle.

Gone are the days when just about anyone with a steady income could wander onto an auto lot and snag a reliable late-model car or buy their kid’s first vehicle for a few thousand dollars.

 

 

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