Despite sliding prices for used vehicles, they remain 33% higher than where they'd be if normal depreciation were occurring.
While used-car prices are easing from their highs, the decreases depend at least partly on their age and the type of vehicle.
For used hybrids, the average price of $43,574 is a 12% drop from the peak of $49,809 in July. For both segments, whose demand rose earlier in the year when gas prices were headed higher, an easing in gas prices also coincided with a decrease in demand for EVs and hybrids. By age, 1- to 3-year-old cars come with an average price of $38,987, down 8% from a peak of $42,375 in July.
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