Used car prices drop for the first time since pandemic

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Some used cars are now thousands of dollars cheaper than this time last year. (Source: Getty)

Used car prices have eased for the first time since February 2020, but buyers shouldn’t expect massive drops.

Dealer used cars are now 3.4 per cent cheaper than this time last year – the first year-on-year decline in more than three years – according to new data from Carsales.

Popular models like the Toyota LandCruiser Prado are now listed for more than $5,000 less than last year.

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