Used Car Prices are Dropping and Here’s Why
The auto industry is experiencing a period of change. Cars are more fuel-efficient, tech-savvy, and there are more options than ever before. But how do these changes affect the used car market?
The used car market has always been volatile, with prices soaring and plummeting depending on demand. However, these days the ups and downs in pricing seem to be happening more frequently. In this post we’ll look at why used car prices are dropping and what you can do if you’re thinking about buying one right now.
Why used cars became so popular
Used cars have become more popular, and for good reason. They’re much more affordable than new cars, and they’re available in large numbers due to the fact that many people are opting to hold onto their vehicles longer. Used cars also tend to be more stable because they’ve been driven and tested for years through all seasons; this means they can survive rain, snow, heat and cold better than unproven vehicles which may not have been driven as long.