Due to the global chip shortage that has limited new car production, used car prices have soared to an all-time high. Now, experts say relief may finally be on the horizon.
Recent reports indicate that used car prices could finally peak soon, or they may have already hit their peak. Moving forward, prices are expected to hold steady briefly, then experience a slow decline.
This is great news for those in the market for a car, as prices jumped 30% between March and June of this year alone, which was the steepest increase in over 70 years.