CHARLOTTE, N.C. — If you’re in the market for a used car, we have great news. Prices are falling, but that doesn’t mean buying one will be easy.
Prices are going down because of soaring interest rates making it more difficult to get a loan.
Shortly after the COVID-19 pandemic hit in the spring of 2020, new car production slowed and even stopped for some manufacturers. This caused a spike in used car prices as consumers had no choice but to purchase pre-owned vehicles.
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