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Used car prices have been surging in 2021 and some analysts think the trend might be here to stay.
Used vehicle prices went up 1.9% in November and 2.5% in October— twice as fast as the cost of new vehicles.
So what's the reason for an increase in prices? Apparently, fewer used vehicles are heading to the market, caused by a lack of new car purchases and fewer rental cars being sent to auction.
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