A Pandemic Sticker Shock: Used-Car Prices Are Through The Roof

Used vehicles are parked on the sales lot at a CarMax store on Sept. 24 in Colma, Calif. CarMax reported a surge in earnings after used-car prices climbed steadily — and surprisingly — for months.

Justin Sullivan / Getty Images

Aaron Springer of Odenton, Md., wasn’t looking to sell his 2014 Volkswagen Jetta SportWagen, which he bought used a couple of years ago.

“I love this car,” he says.

But Springer heard the used-car market was hot, so he decided he might as well check. To his astonishment, used-car site Carvana offered him $1,500 more than he paid for the vehicle in 2018.