That's according to a study conducted for DoneDeal.
Used car prices have jumped by 50 percent since January 2020, according to a new study.
The DoneDeal research has found in the third quarter of this year alone, inflation in the sector rose by 10.6 percent.
It's believed the pandemic as well as the impact of Brexit are behind the sharp increases.
Used car prices are now nearly 50% higher than they were just before the beginning of the pandemic in January 2020, a survey reveals.https://t.co/S0dwp0S48E
— TheJournal.ie (@thejournal_ie) October 11, 2021
It means people people who bought a used car in 2020 could theoretically sell it for a profit this year
DoneDeal's latest monitors on used car prices has found inflation rose by 10.6 percent in the third quarter of 2021.
Prices have gone up by 50 percent since January 2020, largely due to the pandemic and the impact of Brexit.
Report author and environment economist at NUIG is Dr Tom Gillespie.
He joined Ciara Noble and Clem Ryan on Tuesday's edition of Kildare Today
.

€1.2m Approved For Zipline And High Ropes Adventure Centre At Donadea
Fury After Sallins Sunshine Club Misses Out On Funding As Other Counties Get Millions
Christmas Appeal To Adopt Dogs As Euthanasia Figures Rise
Speed Enforcement To Increase In Kildare With 21 New Camera Zones To Be Rolled Out In January
Over 400 Motorists Caught Speeding So Far Today, Including A Driver In Kilcock
Transport Minister In Discussions With Irish Rail About Extending Late-Night Trains Beyond Christmas
Bus Shelters Treated As Luxury Rather Than Standard, With 500 Kildare Bus Stops In Need Of Upgrades
Recruitment Announcements Don’t Add Up As Garda Numbers Stagnant In Kildare South, Says Local TD