Is It Time To Trade Your Old Car In? Used Car Prices To Drop By 25 to 30 % By End 2023 S4 Ep2
If you're hoping to cash in on the used car bubble, get that for sale sign on the window as soon as you can with the second-hand boom beginning to wane. For buyers the bargains are plentiful and it's all due to more new cars in the country with factories slowly returning to normal after three long years of COVID delays. Second hand cars are falling in price as supply of new vehicles increases. The surging cost of living and rising interest rates on vehicle loans are also affecting what buyers can afford to pay. Experts say new car prices are likely to start to fall in 2023, so if you need a car now is a good time to trade your old one in for a newer model before prices drop. We explore the factors that are impacting used car prices.