Used cars are in short supply, but their prices may drop soon, anyway. The wholesale prices car dealers pay at auction for the used cars they later sell decreased 3.0% in April from March.
The figures come from the Manheim Used Vehicle Value Index, a product of Kelley Blue Book’s parent company Cox Automotive, which tracks the prices dealers pay for the used cars they later sell to consumers. Trends in wholesale pricing become trends in retail pricing about six to eight weeks…
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