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Used car prices are up 30% across the board right now. There is a pretty severe shortage of new cars due to COVID shutdowns, chip shortages, and other part shortages. Automakers are having a hard time keeping assembly lines running and new cars in stock. Toyota is down to only 19 days inventory on average and some popular models are 9 days. The industry as a whole is down to 35 days inventory which is half of normal.
That combined with better than expected new car sales last year and strong demand this year means prices are way up. You have people with money to spend chasing a limited supply of vehicles. Basic supply and demand.
A quick look at KBB shows my 2014 TDI is worth more today with 60K miles than what I paid in 2018 with 33K miles.
Caravan is offering $15,283 for it. I paid $14k out the door in July 2018.
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