Wheels: The state of the used car market

Used-car shoppers may have noticed a decline in selection, and higher prices on the vehicles that are available. There are a number of factors at play, but the bottom line for consumers is a tough market for used cars, and it’s just another situation you can blame on the pandemic.

Earlier in the year, as consumers pulled back spending, more people worked from home, and demand for car sales in general waned. Drivers ended car leases early and there was a glut of new cars and early lease terminations, with some larger dealerships running out of room to park them all.