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Used Car Prices Keep Increasing

September 29, 2011

Having trouble finding a good late-model used car? You're not alone!

Blame the slow-down in sales of new cars.

As a result, it will be difficult to find a good bargain for a while.

The dearth of sales at new car dealers means there are fewer trade-ins, notes Consumer Reports. This creates a lack of available late-model used cars for two reasons:

1) There are simply fewer people trading in their cars for new car dealers to re-sell.

2) People are keeping their cars longer so by the time they finally hit the used market, they are much older and in worse condition.

With a short supply of high quality used cars out there, prices have been rising steadily.

However, notes Consumer Reports, "Late-model vehicles are still among the best values you'll find".

It's just going to be more challenging finding the right car at the right price.

On the flip-side, if you have a late model used car that you're looking to trade in for a new car, then you have gold on your hands.

You should negotiate agressively with dealers because demand for late-model used cars is astronomical right now.

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My Recommendation for Car Shoppers

TrueCar No-Haggle, Edmunds Price Promise, 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.

California Residents - Important:

There is a new online car buying service called Roadster, available only to California residents, which I highly recommend you try - especially if you hate the stress of haggling with a car salesman. They provide an expert concierge who negotiates the price of the car and delivers it to your home with zero hassle - you never have to interact with a dealership. Here is my in-depth review of Roadster and why I recommend it.

- Gregg Fidan

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.

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