Yes this was on the national news just last week, many 2nd-hand cars have gone up in value considerably in the last few months... apparently that's never happened before IIRC.
With credit now harder to get hold of, people are buying what they can afford, so the market demand is more evenly spread.
Also consumers and firms are choosing to keep old of their old cars, rather than simply buying new, so reducing supply of used cars.
Rising demand and reduced supply - Economics 101
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