Buyers Getting Sticker Shock As Used Car Prices Continue To Soar

Over half of households have less money deemed necessary to buy a used car

Used cars for sale on June 24, 2021, in Oklahoma City. Prices for used cars have soared so high, so fast, that buyers are increasingly priced out of the market. (AP Photo/Sue Ogrocki / AP Newsroom)


A couple of months ago, a woman paid a visit to Jeff Schrier’s used car lot in Omaha, Nebraska. She was on a tight budget, she said, and was desperate for a vehicle to commute to work.

She was shown three cars priced at her limit, roughly $7,500. Schrier said the woman was stunned.


“‘That’s what I get for $7,500?‘” he recalled her saying. The vehicles had far more age or mileage on them than she had expected for something to replace a car that had been totaled in a crash.


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