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“There’s more people buying cars than there are cars in the market, which makes it go kind of crazy,” Cherner said.

The surge in prices is driven by the slowdown in new-car production because of lockdowns and semiconductor shortages. In addition, unusually for a recession, the number of customers who defaulted on vehicle finance and had their car repossessed has declined, cutting off another source of supply for dealers such as Cherner.
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I wonder if it's affecting Volt's and other used EV's as well?
 
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I don't think it's all that "vehicle specific". The same "haven't had a regular habit of eating out and taking vacations" meant that a lot of people had substantially more cash than they used to. Better-off folk earmarked that for down payments on real estate, a little further down the scale, that's a cash-payment for a used car, which is also (potentially) reliable transport to a new job. Same stuff is happening in between those for leisure boats too, with large numbers of boats selling for $15-30k almost sight-unseen. That doesn't mean that consumers will get higher trade-ins because sellers rightfully know that this spike in demand will end unpredictably and will likely result in glut of overpriced used cars for a while. (not to mention speculative real estate and boat buys..)
 

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2012 Volt Premium (Cyber Gray Metallic) - Stock
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It’s definitely a thing here in Illinois. Dealers are asking for $10-15k over sticker for a Toyota RAV4 Prime, and used car prices are nuts. I sold my 6 speed 2015 Cruze Eco, modded and fully loaded, for only $6,400 before the Coronavirus and now I’m told that car will get $7,000-9,500 on trade by dealers (just based on pictures and a Carfax). I still had the stock parts which helped I’m sure. But I ran into the same thing buying my Volt, what was a $6-8k car was $10k and most $10k Volts I looked at weren’t even in good condition (accident damage). It certainly is a strange world we live in.
 

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It's insane. I have been looking to buy a car in the $10-12k range, and most of what I have seen I would hesitate to buy for half that.
 

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When I bought my Spark EV from Carvana, I paid $10,000 for it. Carvana now has them listed for $1500 to $3500 more and they're selling!
 
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I thought about selling my 2016 Audi A3 e-tron about 6 months ago when I wasn't sure I'd ever need a second car again, and Carvana offered me $17k for it. Today they're offering $20k, but now I'm in the position where I need to keep it.
 

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I bought a 2014 Volt w/ 18k miles in Feb 2020 for $13,750 (from a Ford dealer) and traded it with Carvana three weeks ago. They gave me $13,630 for it with 24k miles.

The new car is a 2018 LT, 22k miles with heated seats and Bose. I paid $17,990..... but now similar LTs without heated seats are going for $20,590. It's crazy, a $2,500 increase in just three weeks. :oops:
 
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