Hold onto your keys, the used car market just did something that rarely happens (outside of the pandemic). Prices actually went up year-over-year. Experts warn this could just be the beginning, thanks to new tariffs on imported autos kicking in this month that are expected to inflate both new and used vehicle prices further. So get ready to make some money on your old Corolla.
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After months of slow declines or stabilizing prices, this upward spike signals a shift. "Used car prices had been falling... but over the past 6 months, used car prices stabilized,” said Karl Brauer, iSeeCars Executive Analyst. “Now used car prices are going up, and this is before tariffs have impacted new car pricing, which will add further upward pressure." According to iSeeCars, the average price for a 1-to-5-year-old used car ticked up 1 percent, or $317, in March compared to...
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