According to vehicle research site iSeeCars.com, used car prices fell 3% in December 2022 compared to year-over-year data. But that hasn't been the case with all used cars; some of them have actually increased in price.
Money expert Clark Howard has historically advised car shoppers to opt for used vehicles over new ones because of the cost difference and value, but he's adjusted that stance due to the crazy vehicle market.
That's why he wants you to hold tight on buying a used car right now as well as a new vehicle — if you can.
iSeeCars.com analyzed more than 1.9 million used car sales to find those that have gone up in price. Those are the vehicles you want to avoid. Let’s have a look at the cars that cost more in each state:
State by State: These Used Vehicles Have Increased in Price
Is It Time To Buy a Used Car?
Although prices are slowly dropping for used cars, Clark says the best deals may be just ahead. He expects prices to gradually fall throughout 2023 and beyond.
"The whole thing is going to come gradually, steadily back into equilibrium," says Clark. "That's why, unless you've got to get a vehicle now, don't!"
A better option for your wallet may be to fix whatever repairs your current vehicle needs. Read this simple auto maintenance schedule that you can follow!
Want more vehicle-buying insight? Read Clark’s thoughts on when car prices will go down.
[ This article was originally published on Clark.com ]
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