The good news is that there is consensus among some authoritative sources that used car prices will fall during 2024. The average price of a used car will fall by 15 percent from current levels by the end of 2023, according to a recent study conducted by ally financial. So far in 2024, we’ve seen 19 weeks of dropping prices, and 8.
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This has fueled demand for used cars, with average prices tracking around 30%.
Used car values are likely to keep falling all year, with ev prices falling faster than petrol cars, particularly in the second half of the year.
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