engadget: “…For used cars up to ten years old, the average price in March stood at $33,653, 40 percent higher than the year before. Newer used cars, those 1 to 3 years old, the average price was $41,000, up 37 percent year-over-year. “With nearly empty new car lots across the country, dealers have been holding prices of newer used cars high,” CoPilot CEO and founder Pat Ryan, told CNBC in April. People are looking longer for used cars — around 171 days on average, up from 89 before the lockdowns, according to car shopping site, CoPilot — and paying top dollar for what they find. It’s not quite as bad as the new vehicle market where paying over MSRP has become the rule, rather than the exception. Prices for used vehicles have declined slightly in recent months, down 6.4 percent from January, but remain well above the pre-pandemic average. “It’s potentially becoming a bit deflationary in that regard,” Jonathan Smoke, chief economist at Cox Automotive told CNBC in May, though he doubts it will immediately lead to a strong price correction. “This is not a commodity market that people are speculating, and used vehicles are assets that actually provide utility to folks.”..