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 Top Recommended Tools for Car Shoppers
TrueCar and
Edmunds Price Promise are the quickest way to see the lowest prices available on new cars in your area. Both tools provide upfront prices from local dealers, and the deals are usually really good. It should be the first step you take when negotiating car prices. You should follow that up with my
checklist to make sure you get the best possible deal.
- 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
RSS Feed
April 17, 2014
April 10, 2014
April 3, 2014
March 27, 2014
March 20, 2014
March 13, 2014
March 6, 2014
February 27, 2014
February 20, 2014
February 13, 2014
February 6, 2014
January 30, 2014
January 23, 2014
January 16, 2014
January 9, 2014
January 2, 2014
I welcome your car buying questions. Email Me and I'll be glad to answer them!
