Used Car Prices May Drop 5% in June
May 31, 2012
The prices of fuel-efficient used vehicles are expected to drop by 5% in June, according to the National Automobile Dealers Association.
Prices had been increasing since January, but they peaked this month and are expected to keep falling through the end of summer.
With gas prices below $4 per gallon, car buyers are more likely to consider larger cars and SUVs instead of smaller, fuel-efficient vehicles. For example, a 2009 Honda Civic LX is expected to drop in price by $600 in June.
Used hybrid vehicle prices are also expected to drop by a good margin, so if you've been waiting for a deal on these types of used vehicles, this summer should offer you plenty of options.
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
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
June 26, 2014
June 19, 2014
June 12, 2014
June 5, 2014
May 29, 2014
May 22, 2014
May 15, 2014
May 8, 2014
May 1, 2014
I welcome your car buying questions. Email Me and I'll be glad to answer them!