Used Car Prices Finally Begin To Decline As Inflation And Interest Rates Take Hold

If you’re in the market for a used car, now might be the time to buy as Manheim has found wholesale used vehicle prices – on a mix, mileage, and seasonally adjusted basis – fell 4.2% in June.

 

This pushed the Manheim Used Vehicle Value Index (MUVVI) down to 215.1, which is 10.3% less than a year ago. That number is billed as a “measurement of wholesale used vehicle prices that is independent of underlying shifts in the characteristics of vehicles being sold.”