Why are trucks suddenly so expensive?
A bunch of related bad economic news has hit car buyers pretty squarely: Rising inflation has pushed prices up, the Federal Reserve’s interest rate jumps have pushed auto lending rates higher, and supply chain issues have squeezed the availability of new cars, further driving prices up.
Are used trucks getting more expensive?
Used truck prices have soared in recent years, hitting an average of $40,000 in 2021. Some pickups with more robust features and capabilities are going for more than brand-new models.
Why are used cars so expensive right now 2022?
The inventory shortage, which began in 2021 and has dragged into 2022, initially impacted new vehicles, but skyrocketing demand and pricing soon followed for used cars.