The wholesale prices used car dealers pay for the cars they later sell decreased by 2.7% in May.
According to the Manheim Used Vehicle Value Index, wholesale auction prices are now about 7.6% lower than they were at this time last year after adjusting for normal seasonal variations. The index is a product of Kelley Blue Book parent company Cox Automotive.
The price of the average used car rose in April, reaching $26,799. But they may drop soon. When wholesale prices fall,…
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