Used‑car prices spike again
After hitting a 12‑month low, used‑car prices have begun rising again according to CARFAX, with higher fuel costs boosting demand for fuel‑efficient models. The rebound complicates residual forecasting for lenders and keeps collateral valuations volatile at the margin. (digitaldealer.com)
Used-car prices jumped again in April, reversing a 12-month low and pushing the average listing on Carfax.com to about $25,500. (carfax.com) CARFAX said April 14 that the average used vehicle price rose by roughly $1,500 in one month. Its March 27 market update had already shown prices rising across nearly every segment, with the average increase topping $450, or about 1.7%, in March. (digitaldealer.com) (carfax.com) The mix is shifting with fuel costs. CARFAX said used electric-vehicle prices rose by more than $560 last month, while pickup-truck prices were essentially flat, down about $20. (digitaldealer.com) (carfax.com) Gasoline prices have been climbing at the same time. AAA said the national average for regular gas reached $4.16 a gallon on April 9, 2026, and the Energy Information Administration put the U.S. average for all grades at $4.11 for the week of April 13. (gasprices.aaa.com) (eia.gov) Supply has not loosened much. CARFAX said leasing bottomed in 2022, leaving fewer late-model lease returns and fewer low-mileage certified used cars in the market now; it said that shortage may take another 12 to 24 months to ease. (carfax.com) Wholesale data points the same way. Cox Automotive said its Manheim Used Vehicle Value Index rose to 215.3 in March, up 6.2% from a year earlier and 1.4% from February, with sales conversion at auction running above the recent three-year average. (coxautoinc.com) Cox said dealers have been bidding up used inventory partly because larger tax refunds and gas above $4 a gallon were supporting demand, especially for electric vehicles. Jeremy Robb, Cox Automotive’s chief economist, said dealers were “stocking up on EV inventory” as pump prices climbed. (coxautoinc.com) New-car pricing is adding pressure from the other side. CARFAX said some automakers raised prices on 2026 models to cover tariff costs, pushing more shoppers toward used vehicles just as used supply stayed thin. (carfax.com) That leaves lenders, dealers and buyers working in a market that is moving in both retail listings and wholesale auctions at once. Cox Automotive said it reviews its 2026 forecasts quarterly as conditions change, and CARFAX said the next few months will show whether higher fuel costs keep steering shoppers toward smaller, more efficient used cars. (coxautoinc.com) (carfax.com)
