Used car prices look like they're about to drop, but how soon?
Fox News
Wholesale used car prices have dropped for the first time since December in the first indication that car shoppers will soon find some relief from high prices.
Retail prices typically lag what the dealers pay by a month or two, so it may still be a few weeks before shoppers see significant relief. According to Manheim, the average auction price in June was $19,997, compared to $15,765 during the same month in 2020 and $14,016 in 2019. Pickup prices remain particularly inflated and are 49.5% higher than they were last June.
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