New Cars Are More Expensive Than Ever, As Used Car Prices Keep Sliding

New car options under $25K drop to a mere 10 models as carmakers push luxury. Meanwhile, used car prices have fallen for four straight months. Buyers take note.

Man looking at new car with red bow with girlfriend in car dealership
(Image credit: Getty)

New cars at reasonable prices are like unicorns in the U.S. these days, as carmakers seem intent on implementing a fully luxury market. Perhaps it’s now time to consider the used car market, where prices are falling consistently from pandemic highs. Read on to understand the woes of new car shoppers — and the opportunity facing the used car market.

New cars are pricier than ever

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Ben Demers
Audience Engagement Manager,

Ben Demers manages digital content and engagement at Kiplinger, informing readers through a range of personal finance articles, e-newsletters, social media, syndicated content, and videos. He is passionate about helping people lead their best lives through sound financial behavior, particularly saving money at home and avoiding scams and identity theft. Ben graduated with an M.P.S. from Georgetown University and a B.A. from Vassar College. He joined Kiplinger in May 2017.