Used car sales recover after COVID-19 lockdowns

The used-car market is showing signs of recovery as lending restrictions – and coronavirus lockdowns – begin to ease. In the grip of the uncertainty caused by the global pandemic in March and April, many used-car dealers, wholesalers, and new-car lots were offering lower-than-normal trade-in values – or refusing to buy stock. Many used-car operators were hamstrung by strict new lending practices – and an increase in finance application knock-backs.