Why Used Car Buying is on the Rise

Due to a global semiconductor shortage, production on certain new cars has slowed, causing used car sales to soar. Like the housing market, it’s a boon for sellers looking to sell or trade in their current vehicles, not so much for buyers who are paying premium prices for both new and used rides. According to recent data, used-car prices rose by 21% in April since April the same time as last year.1

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