Used Car Prices May Drop 5% in June

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.