Why Is It So Difficult To Buy a High-Quality Used Car? (Page One Economics)

Page One Economics: Why Is It So Difficult To Buy a High-Quality Used Car? icon | St. Louis Fed

With prices of new vehicles at all-time highs, many buyers are looking for used vehicles. It can be challenging, though, to figure out what is or isn't a good deal. This issue of Page One Economics explains why asymmetric information makes it difficult for used-car buyers to avoid "lemons" and why lemons are a larger problem for the used-car market.

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Audience:   High School, College, Consumers
Language:   English
Subjects:   AP, Economics, Personal Finance
Resource Types:   Publications, Lessons
Concepts:   Markets, Decision-Making, Incentives