MarkHarvey on Nostr: CarGurus used Car Index: According to the index, used car prices are up 2% in the ...
CarGurus used Car Index:
According to the index, used car prices are up 2% in the last month, and have increased the last 3 months consecutively.
Used car prices are at the same level they were in October of 2021, before the Fed even started raising interest rates.
My thoughts: higher interest rates means higher financing cost for used cars. Higher financing costs means lower demand. Lower demand for used cars means lower prices. 😅
At least that is what I thought would happen with high interest rates. But I've been wrong on this so far.
Why are used car prices so sticky?
Published at
2023-05-04 00:37:27Event JSON
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"content": "CarGurus used Car Index:\n\nAccording to the index, used car prices are up 2% in the last month, and have increased the last 3 months consecutively.\n\nUsed car prices are at the same level they were in October of 2021, before the Fed even started raising interest rates. \n\nMy thoughts: higher interest rates means higher financing cost for used cars. Higher financing costs means lower demand. Lower demand for used cars means lower prices. 😅\n\nAt least that is what I thought would happen with high interest rates. But I've been wrong on this so far.\n\nWhy are used car prices so sticky? https://nostr.build/i/nostr.build_7702d672c3e09dc96d66d686d97b77bdf48563f81429345f728890d1e2849bdb.jpg",
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