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Consumers paying average $10,000 above ‘normal’ prices for used cars

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Jim Watson | AFP | Getty Images

It’s no secret that used-car prices have skyrocketed over the last two years amid an industry turned upside down by supply-chain issues and reduced new-car inventory.

But how much extra are consumers paying? An average of $10,046 more — 43% — than if typical depreciation expectations were in play, according to a June 30 snapshot of prices in the “Return to Normal” index released by CoPilot, a car shopping app.

The average price tag for a used vehicle is $33,341, a 0.5% increase from May and just $172 below the peak in March, the CoPilot research shows. If depreciation forecasts had held true, the average price would be $23,295, according to CoPilot’s…



Source cnbc.com

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