Used car values expected to decline due to COVID-19 crisis
(April 27, 2020) SANTA MONICA, Calif. — Used car values are expected to decline as the coronavirus crisis continues to take its toll on the U.S. economy, according to new research released from the car shopping experts at Edmunds. Edmunds analysts say that a sudden halt in demand for vehicles combined with economic uncertainty will lead to an initial knee-jerk drop in used values, based on historical precedent. In 2008, 3-year-old vehicles lost nearly 10% in value, whereas the year before they declined less than 5% in value.