According to a recent press release from Kelley Blue Book, there has been an overall increase in recent wholesale market values, as reported in the company's new monthly Blue Book Market Report. It’s a drum I’ve been beating for a few weeks now, but it’s always nice to see my research validated.
Anyway, this should be of interest to savvy used car buyers:
Domestic vehicles started the year with gains in the full-size and compact segments, and only a 1.4 percent decline in mid-size vehicles. This indicates returning demand for the domestic brands, which largely was absent leading up to the new year. Contrary to historical trends, import car segments were some of the worst performers in January 2009, falling between 1.5 percent and 2.7 percent for mid-size and full-size vehicles, respectively.
So, what’s it all mean? Now might actually be the right time to look at imported used cars. Prices could be attractive depending on the segment you’re shopping.
You are truly right Dude…the used car rates are dropping too much…even the new car rates are also dropping day by day…
It would be interesting to compare the the decrease in used car prices with how many people are looking to sell their car . Of course, going without a car means you would have to figure out other ways to get around – a task certainly easier in larger cities. Of course, selling a car would be a lot easier if you live in one of America’s most walkable cities .
Some people are turning to used cars rather than buy new to get them through the curent tough times. However, in the long run, if incentives on new rigs continues, it can only depreciate the value of existing cars.
There are still a bunch of used vehicles and buying without driving a hard bargain is crazy. Don’t forget that many dealers are really strapped for cash.