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Our Experience with the Collapse of the Dollar’s Purchasing Power for Used Cars, Auto Insurance, Repair Costs, Rental Cars

October 09, 2023

by Wolf Richter Wolf Street

Or why auto insurance has gotten so ridiculously expensive — after used vehicles have gotten so ridiculously expense.

I’m going to lay out some crazy shocking numbers relating to used car prices, cost of repairs, insurance, and rental cars. This isn’t data, but it’s one incident that illustrates what we’ve discussed here for the past two years, the craziness of what has happened in terms of inflation – and just how far the purchasing power of the dollar has plunged with regards to used vehicles, repair costs, insurance, and rental cars.