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A used inexpensive car is now becoming more and more of a luxury. What the market wants right now is not available, and that’s $3,000, $4,000 and $5,000 cars.
The gap between the average price of a new vehicle compared to a used car topped $20,000 for the first time last quarter, according to data from auto shopping guide Edmunds.
The company reports market value prices for new and used automobiles of all types, as well as motorcycles, snowmobiles and personal watercraft. [16] For both new and used automobiles, Kelley Blue Book provides a fair market range and fair purchase price, based on actual transactions of what others are paying for a vehicle and adjusted regularly as market conditions change.
A used car, a pre-owned vehicle, or a secondhand car, is a vehicle that has previously had one or more retail owners. Used cars are sold through a variety of outlets, including franchise and independent car dealers , rental car companies, buy here pay here dealerships, leasing offices, auctions, and private party sales.
BALTIMORE — When Jeanette Coury and her husband shopped for a car in late May, it took only about a week to search online, test drive a 2018 Nissan Rogue and drive away the next day with a ...
The Edmunds.com True Market Value Used Vehicle Appraiser estimates the actual transaction prices for used vehicles bought and sold by dealers and private parties. [27] In 2020, Edmunds launched a partnership with CarMax that allows a driver to receive a no-obligation cash offer for their vehicle which can be redeemed at any CarMax location. [28]
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