Data: Used car prices up 20.8% in Detroit Chip shortage, pent-up demand drives car prices up nationwide Published: Tags: Are you thinking about selling your car? Do it now! But if you are looking to buy a used vehicle, good luck! Here’s what’s going on ... Used car prices explode Used car prices are up 20.8% in the Detroit market over the past year. Nationally, used car prices have increased 16.8%, or $3,926, over the past 12 months, compared to most years when they remain constant. In Metro Detroit, the data show the average used car price is up a staggering $4,482 compared to a year ago. That puts the Detroit market just out of the top 10 markets based on year-over-year price change: