Used‑car prices climb
Wholesale used‑vehicle prices rose—Manheim’s index showed a notable increase—pushing listed used prices back above $25,000 and to their highest level since summer 2023 (autos.yahoo.com). EVs are reportedly leading this March climb, adding another layer of residual uncertainty for lenders that finance newer‑technology stock (carscoops.com).
Used-car prices climbed again in March, sending the wholesale market to its highest level since the summer of 2023. (coxautoinc.com) 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. The company said values are also up 2.3% since the start of 2026. (coxautoinc.com) The move is showing up on dealer lots. Cox said the average listed used-vehicle price in February was $25,287, up from $25,006 a year earlier, while the average new-vehicle price was more than $49,100. (coxautoinc.com; cnbc.com) Cox said demand strengthened as dealers expected bigger tax refunds to reach consumers, and wholesale inventory at Manheim stayed tight through March. The company raised its 2026 used-sales forecast to 20.4 million vehicles from 20.3 million after the stronger first quarter. (prnewswire.com; cnbc.com) Supply has been thin for a specific reason: there are fewer three-year-old vehicles coming back from leases than in a normal market. Cox said February used-vehicle supply was still down by 11 days compared with February 2022. (oklahoman.com; coxautoinc.com) Electric vehicles are rising faster than the rest of the used market, according to Carscoops, which reported that used electric-vehicle prices led March gains even as more off-lease units reached the market. That creates a moving target for lenders and dealers trying to estimate what those vehicles will be worth months later. (carscoops.com) Higher prices are feeding into financing. Edmunds data cited by industry groups showed the average amount financed for a used vehicle reached $29,314 in the first quarter of 2026, up from $28,338 a year earlier, while the average down payment fell to $3,993 from $4,078. (niada.com) Cox still says retail used prices usually follow wholesale prices with a lag, and its full-year forecast calls for a more typical 2% increase in wholesale values. For now, buyers shopping this spring are walking into a market where the cheaper alternative to a new car is getting more expensive again. (cnbc.com; coxautoinc.com)
