this post was submitted on 03 Apr 2024
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chapotraphouse
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I think Obummer's Cash for Clunkers thing somehow permanently fucked up the used car market. But i haven't ever looked in to it in detail.
I think the two shocks from covid and subsequent "return to normal" probably had a bigger effect. On the one end there's fewer cars that entered the used market and the ones that did had a higher sticker price, followed by a sudden spike in demand.
maybe, i think a big factor is the simple fact that new cars are way more. Even a certified Honda Civic, which was $14k when i bought mine in 2017, is now at least $20k.