The popular Honda Fit, also known as the Honda Jazz, is a five-door subcompact hatchback known for its reliability and versatility. Whether you’re looking to navigate city streets or load up for a camping trip, the Fit is a great car for both day-to-day life and adventure. The best news? You don’t need a brand new model in order to get a reliable Honda Fit with the latest features – there are several “like new” used options available which boast low miles and many of the same features as the 2020 Fit for up to 36% less than original MSRP listing price.

By forcing many Americans to stay home, COVID-19 created a rare opportunity for states to accelerate much-needed road repairs without interrupting daily commutes. With traffic reduced, departments of transportation across the country went to work fixing bridges, highways, and mass transit systems—many of which were long overdue for repair. According to data from the Federal Highway Administration, 26 percent of major urban roads in the U.S. are in poor condition.

U.S. Cities With the Biggest Drop in Used Car Prices The uncertainty precipitated by COVID-19 has affected every sector of the economy, including the automotive industry. Car dealerships are experiencing sharp declines in used car sales, as much of the country still remains under lockdown. While used car sales have always been prone to fluctuations, data from the U.S. Census Bureau found that retail used car sales plummeted more than 20 percent year-over-year in March even before the full effects of stay-at-home orders were realized.

When lockdown orders from the COVID-19 pandemic went into effect across the country, car traffic declined significantly. But research from the Governors Highway Safety Administration (GHSA) shows that even though there were fewer cars on the road during this time, speeding and reckless driving increased. While the relatively empty streets might lull drivers into a false sense of security, speeding is still dangerous and claims the lives of nearly 10,000 Americans every year.

Used car prices have begun to drop due to the economic shutdown, but if consumers buy too soon they might overpay. Car inventory is due to flood the market, which will put pressure on dealers to lower prices. In the Southeast, car prices have already dropped 3.6%, but we expect prices to drop 8% to 15% or more with price drops hitting their lowest points in July - August 2020.

The impact of COVID-19 and the widespread shutdown of car dealerships have only begun to be felt. In the Southwest, car prices have already dropped 3.6%, but we expect prices to drop an additional 8% within the next three months. We’ve analyzed our proprietary database of over 6 million car listings from more than 55,000 dealerships to identify which used car models will have the biggest price drops this summer, as well as predict the best times to buy.

The Midwest is the beating heart of the American automotive industry, and few regions have felt the impact of COVID-19 shutdowns of auto plants and car dealerships as strongly. In the Midwest car prices have already dropped 3.4% overall, but by analyzing our proprietary database of over 6 million used car listings we are predicting that average prices of 2016-2018 used vehicles will drop an additional 7% by the end of the summer.

After weeks of decline, used car sales are back up as states reopen and dealerships are welcoming back buyers. As a result, car inventory will flood the market, which will impact car prices in the consumer’s favor. CoPilot is predicting pre-owned car prices will fully drop starting in mid-July and going through September. The North East region, car prices have already dropped 3% since March 1st, but we do not recommend buying now.

The impact of the COVID-19 economic shutdown on the used car industry is only beginning to be felt. While used car prices in West Coast states have dropped by 3.6% since March 1, CoPilot is predicting an additional 7.7% drop in car prices nationally. We’ve analyzed our proprietary database of over 6 million used car listings to predict how much car prices will fall this summer, and when the best times to buy will be.

The economic shutdown due to COVID-19 this summer has resulted in a turbulent year for used car markets, with average listing prices of 2016-2018 models decreasing by 3.5% since March 1, 2020. However, prices aren’t done dropping yet, and are expected to hit the lowest levels since the 2008 recession by the end of the summer. CoPilot has analyzed their proprietary database of over 6 million car listings from more than 55,000 dealerships to identify which used cars will have the biggest price drops.