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WATCH:  New report points to rising used car prices

WATCH: New report points to rising used car prices

Summary

A new report shows that the prices of used cars that are three years old may rise above $32,000. Experts say that the prices are going up significantly.

Key Facts

  • Used cars that are about three years old could cost more than $32,000 soon.
  • A report highlights a sharp increase in used car prices.
  • Ivan Drury, director of insights at Edmunds, discussed why prices are rising.
  • The used car market is experiencing strong price growth.
  • Rising used car prices may affect buyers looking for cars that are a few years old.
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