'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 Talks Average Transaction Prices And More On 'Auto Trends'

 

2022 Jeep Grand Wagoneer

We go one on one with Mark Schimer, who is a Detroit-based director at Cox Automotive, talking about the day supply and the average transaction price consumers should expect to pay for many of today's vehicles. 

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