Business
Second-hand cars with that new car price – Sydney Morning Herald
Consumers, working from home or fearful of using public transport during the pandemic, have driven up used car prices. But the love affair may be about to end.
Moody’s analyst Michael Brisson said under normal circumstances, used cars had a maximum price above which a person should not pay any more, which is usually the manufacturer’s recommended retail price.
The older a car with more kilometres on the odometer, the more it should depreciate in value.
But Mr Brisson said this relationship had been broken by the pandemic as consumers had bid up the price of used cars.
“For a durable good with a limited life such as a vehicle, it is not sustainable for…
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