American used car prices climbed even higher as inflation continues to rise, according to a recent report.
It appears unlikely that car buyers will get good bargains for used cars or trucks this spring, with wholesale used vehicle prices surging for a third consecutive month in a row in February.
Cox Automotive’s Mannheim Used Vehicle Value Index reported on March 7 that wholesale used vehicle prices increased 4.3 percent in February from January.
This was the largest increase during that period since 2009, during the Great Recession, when it rose 4.4 percent.
The Used Vehicle Value Index tracks prices of used vehicles sold at wholesale auctions in the United States….