Motor Vehicle Increases in Value
Posted on: January 10, 2022 - 8:44am
Motor vehicle values have generally increased nationwide from last year. This is primarily due to the chip shortage for new cars and used cars being in such high demand. It should be expected that the assessment on your car has increased from last year. Several articles on this increase can be found here:
- Wall Street Scans the Lots at Used Cars Prod Inflation (New York Times, 9/27/2021)
- $29 K for an average used car? Would-be buyers left shocked (Associated Press 1/3/2022)
- Average Used Car Price tops $27,000 for the first time (kbb.com, 12/17/2021)
- Report: Used Car Prices Increase in October (jdpower.com, 11/16/2021)
- Used car prices up 3 7% year-over-year as supply constraints bite (cnet.com, 11/18/2021)
- A Used Car Bubble? New Report Says Yes (kbb.com 12/23/2021)
- Pay UP: Average Price of a Used Car in America shockingly close to $30,000