RealCarTips Logo

Used Car Prices Hit Record High

October 15, 2009

Used Car PricesUsed car prices have hit an all time.

The Manheim Used Vehicle Value Index rose 6.9% in September to 118.5, the highest on record. To give you some comparison, the index was at 100 in January 1995.

The reason for the price increase is simple: The supply of used cars has dwindled due to a combination of the "cash for clunkers" program and the fact that rental car companies are keeping their vehicles for a longer period, thus limiting the number of used cars entering the market.

If you're shopping for a new or used car, this won't affect you much if you have a trade-in. However, if you're shopping for a used car without a trade-in, then perhaps you should wait a few months.

Analysts are predicting the price increases won't last. Now that the "cash for clunkers" program is over, used car inventories should start creeping back up again.

My Recommendation for Car Shoppers

TrueCar, Edmunds, and 1-800 Car Show are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan

Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
  • Best Rebates, Incentives, and Lease Deals
  • Latest Car Buying Scams and Tricks
  • The Best & Worst Time to Buy a Car
  • Which Cars You Should Avoid
Enter Your Email Below

(Absolutely NO SPAM, easy to unsubscribe)
×

Gregg Fidan

About: Gregg Fidan


Gregg Fidan + is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.

Latest Weekly Car Buying Tips    RSS Feed

May 16, 2019
May 9, 2019
May 2, 2019
April 25, 2019
April 18, 2019
April 11, 2019
April 4, 2019
March 28, 2019
March 21, 2019
March 14, 2019
March 7, 2019
February 28, 2019
February 21, 2019
February 14, 2019
February 7, 2019
January 31, 2019
January 24, 2019
January 17, 2019
January 10, 2019
January 3, 2019
I welcome your car buying questions. Email Me and I'll be glad to answer them!