The Average Used Car Price is Now $33,000
Data shows that used cars are commanding a $10,000 premium above normal pricing levels.Thanks to data compiled by CoPilot, we can see just how much consumers are paying for used cars as of last month. By tracking virtually every dealership in the US, the data shows the average transaction price of a used car has risen to $33,341, a $172 fall from the used market's peak at $33,513 in March. Looking back at pre-pandemic and early 2020 data, that's $10,046 above projected normal prices for used cars.
After the end of the tank rabbit on Thursday night, the fuel prices are also skyrocketed in Rhineland -Palatinate. At the same time, the ADAC Middle Rhine warned of traffic jams at the weekend. According to his first assessment, a liter of super gasoline on Thursday afternoon in the nationwide average cost around 22 cents more than the day before. With diesel there was a plus of about 10 cents. Super Thursday afternoon made around 2.05 and diesel with around 2.10 euros. With the tank discount, the federal government had reduced energy tax for three months. The regulation had been undertaken together with the 9-euro ticket since June 1st to relieve consumers in the face of high energy prices.
When Will Used Car Prices Go Down?
It isn't news to anyone who has shopped for a used car in 2022: The price of used cars has soared to record highs. According to the U.S. Bureau of Labor Statistics, its used car index, which tracks used car prices, has risen by 42% from December 2019 to October 2022. The free-market used car arena is built on the foundation that sellers can sell cars for the maximum amount buyers will pay. At this point, buyers are showing willingness and ability to pay astronomical prices. Used car prices shot from the first to the tenth floor like an elevator. They're likely to descend like an escalator, and a very shallow one at that. They may never reach the ground floor again.
© Thomas Frey/dpa/Archive picture at a petrol station near Koblenz is high for the tank discount on the last day.
The new price increase in fuel is without Middle Rhine, according to the ADAC, and is in no way justified to consumers. The mineral oil companies sell the already purchased tax -favored fuel at excessive prices and continue cash. That is at the expense of drivers. » The Fuel and Energie Wirtschaftsverband (EN2X) with member companies such as BP, Shell and total energy kept: "The energy tax reduction was passed on." The reasons for the price increase are "a increased demand, narrow capacities in refineries and logistical challenges".
Meanwhile, the ADAC Middle Rhine warned of traffic jams before the start of school next Monday in Rhineland-Palatinate, Hesse and Saarland. Traffic traffic returning tourists, but also from holidaymakers that are not bound on school holidays and weekend excursions, will "increase again". The ADAC added: "The seasonal truck driving ban on Saturdays expired at the end of August, so that more trucks populate the streets again." In both directions, the A 5 Frankfurt-Karlsruhe-Basel and A 61 Mönchengladbach-Koblenz-Ludwigshafen are in both directions. "It is best to recommend starting the car early in the morning or late in the evening because there is less traffic jams at these times," advised the ADAC Mittelrhein.
At the same time, he welcomed the success of the 9-euro ticket for local public transport (public transport): «Many have gained positive experiences and still want to use public transport more than before. The 9-euro ticket has contributed to social participation by enabling more people affordable mobility. » In the future, an improvement in public transport will be significantly more important, especially in areas such as Rhineland-Palatinate, than “a pure ticket subsidization”.
How to Buy a Used Car .
Our tips and expert picks will help you find a reliable pre-owned vehicle at a price you can affordBy Benjamin PrestonUsed-car prices have soared this year, and according to market analysts, they ’re likely to remain high for a while. The reasons are complicated. In short, a global microchip shortage has meant that automakers can’t build new cars fast enough to meet demand. Fewer new cars for sale has increased demand for used cars, pushing prices up more than 40 percent above normal levels this past summer.