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.
