Those SUVs were expensive new as well. If you head over to the new car lot, it's not hard to spend $60k on an SUV, even a domestic one with a Chevy|Ford|Jeep badge.
These are the kinds of vehicles that everyone wants to drive (along with trucks) and 72/84 month loans have been common for a while now (even for lightly used cars). So that sets price floor for trade-ins, since people can only roll over so much negative equity. Then you have to factor in that car sales in 2009-2012 were 50-60% of what they were in 2019.
So, demand is high, and supply is low. It makes sense that used SUVs are expensive. Once you start looking at less desirable models, like coupes and sedans, then prices drop considerably.
These are the kinds of vehicles that everyone wants to drive (along with trucks) and 72/84 month loans have been common for a while now (even for lightly used cars). So that sets price floor for trade-ins, since people can only roll over so much negative equity. Then you have to factor in that car sales in 2009-2012 were 50-60% of what they were in 2019.
So, demand is high, and supply is low. It makes sense that used SUVs are expensive. Once you start looking at less desirable models, like coupes and sedans, then prices drop considerably.