Used Car Prices at Highest Levels Ever
My intent today was to write a story about the most stolen vehicles in America. And I’ll get to that.
While researching the story, though, I came across a newscast by AutoNews that said used car buyers are paying as much as $3,000 more than they did just six months ago. Kelley Blue Book similarly reports that used cars are now “more expensive than ever.”
That’s great if you happen to be in the business of selling used cars or have a car you want to unload. But it sucks for car buyers and only makes some vehicles even more appealing to steal.
If you’re buying a used car, DealFinder is a great place to start and, according to Kiplinger’s Personal Finance, could save you thousands by offering price transparency and daily analysis on over two million used cars. That’s invaluable when dealing with skyrocketing car costs!
Late-model fuel-efficient cars are obviously the ones seeing the most demand on the used market, with the Toyota Prius, Ford Escape Hybrid, Ford Fusion, Nissan Versa and Honda Civic seeing the biggest price increases.
But it’s the older ones seeing demand on the black market.
The most stolen car in the U.S. is the 1994 Honda Accord, which can still fetch pretty good coin if in good shape. While drivers love it because of its reliability and efficiency, thieves love it for its parts. If you have one, put a Club on the thing and pray to the Honda gods that you are spared.
As used car prices increase, so does your risk of having your vehicle stolen, whether it appears on this list or not. There’s lots of good advice out there on keeping your car out of a thief’s hands, which you should absolutely take.
Have you noticed higher used car prices? Ever had a car stolen?