The price for used cars is well below the price of new cars of the same general quality.This is an example of:

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The phenomenon of used cars being priced lower than new cars of the same quality is known as Lemon's Market. This is because buyers often perceive used cars as being of lower quality and therefore demand a lower price, creating a market where only "lemons" (i.e. low quality cars) are sold. This is a common phenomenon in the used car market.

The Price for Used Cars Is Well Below the Price