Americans Can No Longer Afford This

If you were looking to purchase a used car in the near future, it might be a better idea to wait.

Now it appears that used vehicle prices are now back on the rise and nobody really understands why.

According to Breitbart, New data from Manheim has learned that the price of used cars has risen for the second consecutive month in January. This has only fueled more fear about the direction inflation is heading under Joe Biden’s leadership.

The Manheim Used Vehicle Value Index, which is responsible for tracking the wholesale auction prices for used cars, has found that used car prices rose by 2.5% in January alone. Prices were also up in December. Now used car prices are the highest they have been since August of 2022.

Manheim also believes that used retail sales increased 16% in January from December and that the price for used retail sales were up 5% year over year.

What’s even more troubling about all of this is that used car sales makes up about 4.5% of the Consumer Price Index. This means that used car prices increasing means that it can push up the overall measure of inflation which many people now call “Bidenflation”.

President Biden has a large number of issues to address. His top priority as of right now should be trying to get the American economy, not booming, but simply back on track. Inflation must come down and right now it’s doing the exact opposite.