That's according to a study conducted for DoneDeal.
Used car prices have jumped by 50 percent since January 2020, according to a new study.
The DoneDeal research has found in the third quarter of this year alone, inflation in the sector rose by 10.6 percent.
It's believed the pandemic as well as the impact of Brexit are behind the sharp increases.
Used car prices are now nearly 50% higher than they were just before the beginning of the pandemic in January 2020, a survey reveals.https://t.co/S0dwp0S48E
— TheJournal.ie (@thejournal_ie) October 11, 2021
It means people people who bought a used car in 2020 could theoretically sell it for a profit this year
DoneDeal's latest monitors on used car prices has found inflation rose by 10.6 percent in the third quarter of 2021.
Prices have gone up by 50 percent since January 2020, largely due to the pandemic and the impact of Brexit.
Report author and environment economist at NUIG is Dr Tom Gillespie.
He joined Ciara Noble and Clem Ryan on Tuesday's edition of Kildare Today
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