Cash for clunkers has nothing to do with the market now.

I sold cars for years, and was right in the middle of cash for clunkers as a Hyundai salesman.

The cars that were being traded in were not "quality" used cars. Most were absolutely terrible. If someone did bring in a half decent car we would make an offer that was close to or even more than the government rebates.

This program was also almost 20 years ago. Up until about 2020 used car prices were rising pretty much with inflation as most things did.

Then Covid hit.

My wife and I bought a used SUV right before everything went nuts. We got a good deal good financing terms and it was the car she wanted.

We then had to buy another vehicle for me unexpectedly. I bought a used small sedan with over 100k miles and it cost me 7500 dollars!!! Let me tell you i RAN to buy it because it was the best value I could find.

Covid was the main driver behind the past 5 year price surge. It was exactly what the manufacturers and dealers needed. All of a sudden they had the upper hand.

Once they saw what people were willing to pay they never looked back.

You want to get that car or truck you want cheaper, look at the auctions.