CONNECTICUT — Used car prices have jumped nearly 15 percent over the past few months in most of Connecticut, but the surge is still below the national average, a survey shows.
According to iSeeCars’ newest study, used car prices in April increased an “unparalleled” 14.8 percent — or $3,071 — in the “Hartford” market over a year’s time in the wake of a worldwide microchip shortage. The survey defines the Hartford market as Hartford, Litchfield, Middlesex, New Haven, New London and Tolland counties.
Nationally, used car prices have increased 16.8 percent, or $3,926 compared to last year, the survey shows.
Prices for some vehicles have increased more than average, making them “the worst vehicles to buy,” while presenting lucrative trade-in opportunities, according to the survey.
Other cars “defied the trend” by either decreasing in price or by slightly increasing in resale value,…