Prices for used cars rose nearly 41% over the past year. Here’s the list of three-year-old used cars that have surged the most in price on average.
Cars are traditionally depreciating assets. But a slowdown in new car production among auto manufacturers has created high demand for used vehicles—and led to sticker shock for buyers expecting to find deals on second-hand models.
The average transaction price for a three-year-old used Dodge Grand Caravan, for example, surged by 69%, according to data from automotive research company Edmunds, rising from just over $15,000 in January 2021 to nearly $26,000 last month. The firm provided a list of three-year-old used cars that have seen the biggest percentage increases in average transaction prices over the past year. It says average prices paid
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