Edmunds: Used Vehicle Pricing Highest Since Data Tracking Began

SEE ALSO: Used Car SuperSearch

Special to The Auto Channel
Jes­sica Cald­well
Direc­tor of Indus­try Analy­sis
Edmunds.com

Used vehi­cles saw their high­est price in the sec­ond quar­ter since Edmunds.com has been track­ing the data – reach­ing an aver­age of $18,800. Mar­ket strength is com­ing from an influx of newer vehi­cles and strong demand and pric­ing for older used vehi­cles. Car shop­pers have been financ­ing their vehi­cles over a longer period of time to afford the higher prices with aver­age APRs ris­ing. Shop­pers are also return­ing to the “new vs. used” ques­tion as the price gap tight­ens is some segments.

See Complete Edmunds Q2 2015 Used Vehi­cle Mar­ket Report (PDF)

Near-New (5-Years Old or Newer) Used Vehi­cles:
Led 5.1% Y-O-Y Lift in Vol­ume
Near-new inven­tory pumped up by lease returns and trade-ins, sup­port­ing CPO sales.

Aver­age Amount Financed per Vehi­cle:
$20,732 Up 3% from Last Year
Nearly 60% of used buy­ers see­ing 5% or lower APR, but many have APRs over 10%.

Off-Lease Play­ing Big Role in Mar­ket AQlong With Trade-ins Siz­able Part of Near-New Segment
About 25% of trade-ins from used vehi­cles con­tributed towards near new inventory.