When Will Used Car Prices Drop 2024 Mumbai. Are high interest rates pushing people away from buying new cars hence causing greater demand for the already tight supply of used cars? Used vehicle prices continue to drop and more certified preowned cars line dealers' lots as consumers seek alternatives to pricey new cars.

Cargurus used car price index indicates that the average used car costs $27,166. Used car prices are falling sharply at wholesale markets and more slowly at retail car lots.