Second-hand car prices have soared: here’s why – NEWS.com.au

Most car owners expect the value of their vehicles to fall over time, but used car prices have jumped 25 per cent over the past year due to lower global supply of new cars and people shunning public transport. According to Datium Insights, data shows second-hand vehicle prices in August were up 25 per cent on the year.
CommSec chief economist Craig James said the strength of the used vehicle market was a surprise.
“But in the COVID-19 era … Aussies are more cautious about using public transpor…

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