Used Vehicle Pricing Highest Since Edmunds Began Tracking Data

Caldwell_Jessica_Edmunds

Jes­si­ca Cald­well
Direc­tor of Indus­try Analy­sis
Edmunds.com

Used vehi­cles saw their high­est price in the sec­ond quar­ter since Edmunds.com has been track­ing the data – reach­ing an aver­age of $18,800. Mar­ket strength is com­ing from an influx of new­er vehi­cles and strong demand and pric­ing for old­er used vehi­cles. Car shop­pers have been financ­ing their vehi­cles over a longer peri­od of time to afford the high­er prices with aver­age APRs ris­ing. Shop­pers are also return­ing to the “new vs. used” ques­tion as the price gap tight­ens is some seg­ments.

See Edmunds Q2 2015 Used Vehi­cle Mar­ket Report

Near-New (5-Years Old or New­er) Vehi­cles Led 5.1% Y-O-Y Lift in Vol­ume:
Near-new inven­to­ry pumped up by lease returns and trade-ins, sup­port­ing CPO sales.

Aver­age Amount Financed per Vehi­cle is $20,732 Up 3% from Last Year:
Near­ly 60% of used buy­ers see­ing 5% or low­er APR, but many have APRs over 10%.

While Off-Lease Play­ing Big Role in Mar­ket, Trade-ins Siz­able Part of Near-New:
About 25% of trade-ins from used vehi­cles con­tributed towards near new inven­to­ry.

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