Used Car Prices Keep Increasing

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.