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In the market for a used car? Here’s what’s behind Canada’s cooling market

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While the cost of new cars in Canada continues on an upward trend, the used vehicle market is finally starting to cool, according to some experts.

Challenges faced by the new car market during the COVID-19 pandemic, including delivery delays, drove people to choose used cars. But now as some pandemic obstructions are starting to wear off, the demand for used cars is beginning to stabilize and as a result prices are going down.

On the other hand, purchasing a new vehicle has become more expensive as interest rates slow down demand and increase the cost from financing. Vanessa Wright reports.

For more info, please go to https://globalnews.ca/news/9459963/canada-vehicle-market/
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Category
U.S. & Canada
Tags
global news, used cars, used car market
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