Price of used cars has gone up?

I have a used car I was looking to sell. Over a year ago I checked it’s KBB and it was about $12,000. I just checked it’s KBB and now it says almost $18,000! How’s that possible?

Lack of available cars has made prices for used vehicles jump…in other words more demand then available supply

Great time to sell as it will eventually level off

Wow, that’s crazy! I had no idea. Thanks for the information.

Another in a long list of victims. :wink:

Would you recommend using Carvana?

To sell? Not sure honestly, I don’t have much experience when it comes to selling cars.

I tend to keep mine forever…but almost any site would do I imagine just look at their terms and conditions regarding how much they keep if any.

My buddy did that was his lighty used jeep wrangler. He sold it for more then he paid for it. I would definitely be looking to sell a car if you don’t need it right now.

He has a few vehicles so he figured might as well make some money on a used vehicle. It’s crazy right now.

I would definitely look at carvana right now.

1 Like

There is a world wide shortage of computer chips that’s necessary to build new cars. Just GM alone, has over 140,000 cars completely assembled but lacking computer chips. Since dealers can’t get new cars, they’re competing for what’s left in used and driving the price to heights never seen before. I’m seeing used 2019 trucks with 30,000 miles on them, bring over the original MSRP. It’s absolutely crazy. The trickle down effect is taking place as the vehicles get older and have higher mileage.

It is if you have something else to drive? If you’re trading on a used, that one went up at the same percentage as your’s but if you’re considering new, if the dealer hasn’t marked it up over the retail price, that’s the way to go. I’ve never seen it this close as it is right now.