04
Apr
11

used car prices still moving up

Looks like they expect used car prices to continue to go up. Due to the impact that the Japan earthquake is having on auto production, it’s anticipated that used car prices will continue to rise, particularly on small used cars. Over the last couple of weeks there’s been an 11% increase in the wholesale prices of used compact cars, and midsize cars went up by 8.5%. NADA pricing service said that the price increase for small to medium cars will most likely continue to rise since they’re the closest substitutes for the Japanese new cars. As expected, gas prices have also played a role in the trade-in value of smaller cars, so combine that with the effect that the earthquake in Japan has had on auto production and we will most likely continue to see an increase. Toyota and Nissan said that they don’t anticipate being back up to full production in Japan until April 11.

To read the full article in USA Today, please click here.


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