July 11, 2025

carinsurancequotessom

Not just any automotive

Used Car Prices Are Falling, Should You Buy Now?

If you are a used car shopper, you can rest easier knowing that prices are falling. The falling prices are not a new development, either. Average used vehicle prices are in the third month of decline, and new vehicle production is hampered by supply issues. However, the prices aren’t falling by much, and they are still way up from this time last year. Also, experts at Cox Automotive estimate that prices are unlikely to fall back to pre-pandemic levels. So, should you rush out and buy a used car now? 

Are used vehicles very expensive right now? 

Used cars like these have falling prices.

Used car prices are falling | Pablo Monsalve, Getty Images

In short, yes, used cars are quite expensive right now. Supply chain issues and material shortages have led to raised prices for both new and used vehicles. Automakers are producing cars with reduced options due to semiconductor chip shortages, and that is when buyers can get a new vehicle at all. 

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