Posted By RichC on June 19, 2012
After conversing back and forth with a VW TDI friend of mine in a Google+ thread about the 30-40% increase in new car prices, we sort of concluded in a “maybe we’ll buy a used car?” Of course with the higher priced used cars recently (particularly diesels), I’m not so sure that is a good idea either? To that end, I did just read Phil LeBeau’s article in a CNBC blog that Used Car Prices Starting To Fall. It must be that Americans getting a bit more comfortable with the idea of financing a new car or they are just getting desperate to replace their aging ride. Who here is old enough to remember Junior? –>
After three years with used car prices surging to levels where it often made more sense to buy new instead of used, the price pendulum for pre-owned cars is swinging the other way.
It’s not a huge pull back so far, but dealers are increasingly looking for used car prices to moderate.
The latest data comes from ADESA Wholesale Vehicle Auctions. ADESA is one of the larger firms auto dealers use to buy and sell used cars and trucks. In May , the numbers continued falling from earlier this year.
May Change vs. April
• Avg. used vehicle price: $10,271 (down) $306
• Avg. Used car price: $9,546 (down) $409
• Avg. used truck price: $11,038 (down) $207