Used vehicle prices will still remain high for the next several months


Oct 14, 2014

Black Book still expects used cars to be valued 30 to 40 percent above their pre-COVID levels for the next 12 to 24 months. That’s great news if you’re planning on selling and a nightmare if you’re looking to buy.

"We are in this elevated price environment for the foreseeable future," Yurchenko said. "The main reason is inventory. We're not going to have the same level of used inventory coming back to the market in the next several years."
"Depending on how long the chip shortage or overall supply chain issues last, we might see this limited used-inventory environment for three, four or five years, depending on how fast we can get back some normality in the new market."
Yes, even for BITOG beaters the price is very high. My friend was going to look at a $3k 181k mile 98 Explorer 4x4 this morning, but it was already sold. Granted these are the finest of dinosaurs.

2003 2WD Ranger, 278K miles, pretty basic...over $5K.

I was thinking of selling my 2002, but it's dented up real bad and looks pretty rough, plus I still like driving it a couple times a week.