Interest rates are one reason a used car may be more expensive than a new one. Most lenders offer much higher rates on used cars than new ones, even if you have great credit. The main reason is that a used car carries far more risk to a lender than a new car. A lender knows a new car's condition exactly, while a used car is more of an unknown.
So why are Jeeps so expensive? What other off-road vehicles can you get that is better for the same price or less than a Jeep? Before we look into why current Jeeps are so expensive, let's look at the prices of older Jeeps when they were brand new.
The average price of a car to date through February is about $32,200, about $500 more than the price of a vehicle last year, according to J.D. Power, as manufacturers roll out new models with additional technology and safety features, justifying an increase in price.
When shopping for a used car, there are a number of factors that can contribute to the price you'll pay: type and brand of vehicle, model year, wear-and-tear, and mileage. Typically the more
Join Nolan Sykes as he explores why cars are so expensive, from features and safety, to fuel efficiency, and most importantly, the slow rise of the American median income.
New and used cars have generally gotten more expensive over the last 5-10 years or so, but not consistently. For example, family sedan prices have barely budged during that time - you can still get a very nicely-equipped Honda Accord for 21-22k, just like you could 10+ years ago.