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Used Car Prices Should Remain High in 2012

Prices on used vehicles are expected to remain high in 2012 due to a continued shortage of inventory.

The number of used cars available today is dependant on the number of new cars that were sold in the past 3 years.

There were only 10.3 million and 11.6 million new cars sold in 2009 and 2010, compared to average levels of 16 million in prior years.

To make matters worse, leasing took a huge nosedive, so there are few lease-returns coming back right now.

The good news is that higher used car prices make new cars more attractive. The year-over-year depreciation rate on 2010 models was only 6.6%.

Some experts are predicting increased incentives on new vehicles during the first quarter as Honda and Toyota try to gain back market lost market share.

If you currently have a used car you want to trade-in or sell for a new one, this is a good year to do so.

Used car prices are expected to keep increasing from now until summer.






3 Steps Every Car Buyer Needs to Take to Save Maximum Money

The key to getting the best deal is to gather price or lease bids from as many local dealers as possible. Then shop that best price around until no one can beat it. Here are the steps:

Step 1 Get Prices From My Trusted Network

Select the vehicle you're interested in to see if there are local dealers in my network who will provide you with their best upfront price. You will get direct access to an internet sales manager who you can further negotiate with online (no need to visit dealership).
Select Vehicle to Get Local Pricing

Step 2 Get Prices From TrueCar / CarsDirect

TrueCar, and CarsDirect are my top 2 online price quote recommendations. These services show you pre-negotiated prices from dealers closest to you - and the deals are usually pretty decent. But remember, you can still negotiate further.

Step 3 Complete my Checklist

Follow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan

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About The Author

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.

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