Wholesale used car prices dropped again—what that means for bargain shoppers

Car dealers paid about 1% less for used cars at auction in the first half of July than they did in June.

That’s news, mainly because wholesale prices were already down more than 10% in June from where they stood a year ago.

The numbers come from the Manheim Used Vehicle Value Index, a product of Kelley Blue Book parent company Cox Automotive. The index tells us dealers are now paying 11.1% less for used cars than a year ago.