The used car market is insane! Did you know, the average used car today costs $29,000?
If you’re working full time, earning minimum wage, that’s literally two years of labor for a car that might be one pothole away from falling to pieces.
Used cars today are somehow fetching prices that defy their age and mileage.
But with inflation still high, interest rates even higher, and consumers running out of savings while also racking up record debt these used car prices are unsustainable.
And we are on the cusp of what could be an historic used car market crash.
In today’s deconstruction, we’re going to look at 4 reasons why used car prices are headed for a market crash.
The impact of increased new car production, high interest rates, record auto loan delinquency rates, inflation, and so much more are driving the used car market into uncharted territory.
#usedcars #usedcarmarket #usedcarprices #inflation #carbubble #carshopping #marketcrash
Chapters
00:00 Insanity of Used Car Prices
00:59 How Did We Get Here?
01:46 Influx of New Cars
02:45 High Inflation & Higher Rates
03:18 EV Price War
04:01 Record Delinquency Rates
05:33 Brace for Impact
source
New here and hope you enjoyed the video! More on the way so please feel free to do all the magic – like, share, subscribe, comment as it really helps new creators like myself 😅
Pretty cool video. Chip shortage is absolutely a major cause of the cat inflation, especially with the Teslas and other cars riddled with features.