Hurricane Sandy Increases Used Car Prices Nationwide
Former Hurricane Sandy is pumping up used car prices all across the U.S. The National Automobile Dealers Association estimates the storm destroyed 100-thousand to 250-thousand vehicles in New York and New Jersey. People who lost their cars are now in the market for new vehicles and the added demand is likely to boost used car prices by as much as 700 to a thousand dollars per car, according to car buyers’ research website Edmunds.com.
Used car industry analysts say the demand will keep used car prices from “softening” as much as they usually do this time of year.