Used van and SUV sales prices are on the rise as spring arrives.
The latest CARFAX Used Car Index shows van prices jumped by $800 or 3.7 percent in March. SUVs were up $400 to 1.6 percent or $23,446, with luxury models seeing a $500 spike to $33,552.
“This might be the result of families deciding to upgrade their fleet with the aid of state and federal tax refunds. Other large family choices also saw big increases in March,” said CARFAX about the increase in van and SUV prices.
Every category in the used vehicle space saw price increases. Pickups rebounded from previous declines, increasing by 0.8 percent to $32,009. Used cars were up 0.6 percent to $17,642. Hybrids and EVs gained 0.9 percent to $29,627.
CARFAX debuted in its index data from eight regions, showing a noticeable discrepancy in prices across the country.
The southeast, including Virginia, West Virginia, North Carolina, South Carolina, Kentucky and Tennessee, saw the largest average increase in prices on the used market, 3.5 percent, with the average price approaching $22,000. Used pickups rose by $800 in the region in March.
