Used Car Prices to Hit Rock Bottom Soon

According to both KBB and CarGurus.com, used car prices are expected to drop by a further 3 to 4 percent between now and the first week of next year.

Prices peaked in August and are expected to hit rock bottom on January 8, 2012.

Historically, used car prices start climbing rapidly between January and February, sometimes by as much as 4%.

On a $20,000 used car, timing your purchase could save you an average of $800 - which is definitely not pocket change.

Sources: CarGurus, KBB