Used Car Prices Have Hit Their Peak
May 10, 2012
Used vehicle prices have finally stopped their upward trajectory and are expected to head a little lower from here as the year progresses.
Most analyts were expecting prices to peak and head lower beginning in June, but the Manheim Used Vehicle Value Index shows that prices started heading down in April. Used cars have commanded higher prices over the last couple of years due to limited inventory and high gas prices, which boosts demand for fuel-efficient vehicles.
If you're shopping for a new car, now's a good time to consider selling your trade-in while used car prices are at their peak. If you're looking to buy a used car, prices usually hit bottom between December and January.
I don't expect used car prices to head too much lower since there's still a lot of demand, but timing your purchase towards the end of the year might save you a few hundred dollars.
Get My Free Weekly Advice on Car Buying
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
My Recommendation for Car Shoppers
and Edmunds Price Promise
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
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.
Recent Tips, News, & Incentives
November 20, 2014
November 13, 2014
November 6, 2014
October 30, 2014
October 23, 2014
October 16, 2014
October 9, 2014
October 2, 2014
September 25, 2014
September 18, 2014
September 11, 2014
September 4, 2014
August 28, 2014
August 21, 2014
August 14, 2014
August 7, 2014
July 31, 2014
July 24, 2014
July 17, 2014
July 10, 2014
July 3, 2014
I welcome your car buying questions. Email Me and I'll be glad to answer them!