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Chip shortage pushing used car trade-in prices up 20% since last year

Car leasing is all the rage. Is it a good deal?
Posted at 8:43 AM, May 24, 2021

The chip shortage that's driving up the prices for new cars could also help you get more for your trade-in.

Carfax says used car prices are about 20% higher than they were this time last year with used trucks currently about 30% higher.

The higher trade-in values are nice but if you want to use that money to buy a new vehicle you could still end up paying more than you thought because of supply problems, according to Carfax