When you buy a car, you assume that when you sell that car some years down the road, you'll get less than you paid.
That's usually correct, however, in the past year, used car prices are actually up 30%.1,2 Various factors drive used car prices, but a significant factor could be the global microchip shortage for new vehicles.
The classic economic lesson of supply and demand.
Demand for used cars may well slow later this year as automakers return to normal production levels.
1. CarandDriver.com, June 5, 2021
2. APNews.com, June 22, 2021