Economics

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Used cars under $20K have almost vanished from the market (www.usatoday.com)

submitted 3 weeks ago by MicroWave@lemmy.world to c/economics@lemmy.world

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Before the COVID-19 pandemic, more than half the used cars for sale in the nation were 3-year-old vehicles priced for $20,000 or less. Today, those same type of vehicles comprise only 11% of used cars.

In fact, most shoppers who are in the market for a used vehicle would be hard-pressed to find a 3-year-old model below even $30,000, forget finding one for $20,000.

According to a new study from research website iSeeCars.com called: "The sub-$20,000 used car is almost gone," the average list price for a used 3-year-old vehicle is now $32,635, that’s $9,476 more than it was six years ago.

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[–] BombOmOm@lemmy.world 3 points 3 weeks ago* (last edited 3 weeks ago) (1 children)

looks at Cragslist

I see hundreds of cars in my area with a 4-digit price tag. I'm not sure where their info comes from, but used cars under $10,000 (hell, they say under $20,000) most certainly have not "almost vanished from the market."

[–] givesomefucks@lemmy.world 3 points 3 weeks ago

It's for 3 years old and newer models.