(AP) — For months, anyone who wandered onto a dealer lot to look for a used car could be forgiven for doing a double take — and then wandering right off the lot.
Prices had rocketed more than 40% since before the coronavirus pandemic began — to an average of nearly $25,000. But now, a sliver of hope has emerged.
The seemingly endless streak of skyrocketing used vehicle prices appears to be coming to a close. Not that anyone should expect bargains. Though average prices for cars, trucks and SUVs are gradually declining, they’ll likely remain near record levels.