Economics

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

submitted 2 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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[–] Kolanaki@pawb.social 2 points 2 weeks ago

I can still regularly find used cars for $5000 or less. That still run. Perks of living in an area full of both gear and meth heads, I guess?