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.
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