According to the U.S. Bureau of Labor Statistics, prices for used cars and trucks were 3.72% lower in 2020 versus 2016 (a $0.74 difference in value).
Between 2016 and 2020: Used cars and trucks experienced an average inflation rate of -0.94% per year. In other words, used cars and trucks costing $20 in the year 2016 would cost $19.26 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.83% during this same period, inflation for used cars and trucks was lower.
In the year 2016: Pricing changed by -2.47%, which is below the average yearly change for used cars and trucks during the 2016-2020 time period. Compared to inflation for all items in 2016 (1.26%), inflation for used cars and trucks was much lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Used cars and trucks:
Below are calculations of equivalent buying power for Used cars and trucks, over time, for $20 beginning in 2016. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|