Getting Less For The Money' The Affordability Crisis Hits America's Used-Car Lots - Jalopnik

Used cars in the U.S. are costing far more than they did before the pandemic, with consumers effectively “getting less for the money,” according to data cited from Edmunds and Bloomberg. An average used vehicle priced between $10,000 and $15,000 is now about nine years old with roughly 98,000 miles, compared with 2019 when the same budget could buy a car under five years old and about 58,000 miles. Record new-car prices feed a premium used-car market, where tighter budgets push buyers toward older, higher-mileage vehicles. The article links the rise to supply-chain disruptions, automakers’ profitability strategies, higher costs including tariffs and energy, and fewer leased vehicles returning to lots.