'Auto Trends' Talks To A Used Car Manager About What Drives Appraisal Calculations

                                

Pre-owned Car Manager Rachel Pitman (Photo Credit: RP)

For anyone who has been in the market recently for a used car, they’ve noticed that their dollar doesn’t go far these days. The cost to purchase a used vehicle today is more than it was prior to the pandemic. In fact, according to Manheim Used Vehicle Index, wholesale used vehicle prices, which is the amount dealers pay for their automobiles, increased by 8.3% in the first 15 days of October compared to the entire month of September. And when looking at a year-to-year comparison, the value of used vehicles has increased by a whopping 37 percent from October 2020.

Cox Automotive’s Kayla Reynolds Talks About The State Of The Auto Industry On 'Auto Trends'

 

Kayla Reynolds, Cox Automotive’s manager of economics and industry intelligence, joins Auto Trends with JeffCars.com to discuss the current state of the automotive industry.

During the in-depth conversation, Reynolds focuses on the key indicators that are literally ‘driving’ the economy and causing new car prices to rise upwards of $3,000, since 2019. Moreover, for cash strapped consumers, who feel as though they are being priced out of the new car market, she explores the impact Covid-19 and other factors are having on the used car market.

What You Can Drive for $20,000

2009 Chrysler 300 LX with 17,000 miles (factory warranty expires at 36,000 miles)

 

2008 Nissan Maxima SE with 55,000 miles (factory warranty expired)

2007 Lexus ES 350 with 63,000 miles (factory warranty expired)

2007 Volvo XC90 with 24,000 miles (factory warranty expires at 50,000 miles)