Used cars are harder to find, prices going up at Minnesota dealerships

Cost of used cars going up

Used cars are becoming increasingly difficult to find and more expensive to purchase.The average price of a three-year-old used car has increased 40% since 2019, and during that time, the cost, according to Edmunds data, has risen $10,000 to $31,000.

RELATED: Edmunds: What you need to know about rising used car prices

Scott Lambert with the Minnesota Automobile Dealers Association says the shortage of late-model used cars can be blamed on the pandemic.

“They just simply weren’t producing a lot of new cars in the first half of this decade, because of the pandemic,” Lambert said. “If you recall, we had microchip problems; they couldn’t finish the cars, so there weren’t a lot of cars being produced, and that means there’s fewer used cars on the market now.”

Lambert recommends that if you find a nice used car at a good price, buy it, because he doesn’t see costs going down.
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