"Average used-car price nears $30,000...."

I have never spent more than $12,500 on a car--and that was a two year old 1995 Buick Skylark.

Nice car--all the bells and mid-90s whistles.

Not even close since, and with that in mind, it should {?} be clear I've never bought a new car.

Right now, our family vehicle is a 2005 Expedition XLT--literally totaled, thanks to being t-boned in a rural smash-up over the summer. 

It's still driveable, albeit an embarrassment to be seen in, so we still use it. But for how much longer? We're playing with house money, and it's running out.

However, the current used car market is insane, and it does not appear that we will be able to replace it with anything other than a similar wreck.

 “I’ve never seen anything remotely close to this — it’s craziness,” said Schrier, who has been selling autos for 35 years. “It’s quite frustrating for so many people right now.”

When the government reported that consumer inflation rocketed 6.8% in the 12 months that ended in November — the sharpest jump in nearly 40 years — the biggest factor, apart from energy, was used vehicles. And while the rate of increase is slowing, most experts say the inflated vehicle prices aren't likely to ease for the foreseeable future.

The blame can be traced directly to the pandemic's eruption in March of last year. Auto plants suspended production to try to slow the virus’ spread. As sales of new vehicles sank, fewer people traded in used cars and trucks. At the same time, demand for laptops and monitors from people stuck at home led semiconductor makers to shift production from autos, which depend on such chips, to consumer electronics.

When a swifter-than-expected economic rebound boosted demand for vehicles, auto plants tried to restore full production. But chip makers couldn’t respond fast enough. And rental car companies and other fleet buyers, unable to acquire new vehicles, stopped off-loading older ones, thereby compounding the shortage of used vehicles.

Bleak as the market is for used-car buyers, the computer chip shortage has also driven new-vehicle prices higher. The average new vehicle, Edmunds.com says, is edging toward $46,000.

Even so, prices of used cars are likely to edge closer to new ones. Since the pandemic started, used vehicle prices have jumped 42% — more than double the increase for new ones.