Used auto prices decline
Posted on Friday, October 12, 2012 at 9:02:56 PM
Pricing trends for wholesale used vehicle prices are continuing their decline in September. The Detroit News reports that while inventory levels are rebounding following the recession, average wholesale prices are falling an average of 2.1 percent during the first month of fall.
According to ADESA Analytical Services, these trends are expected to continue for the rest of the year. Consequently, trade-in values for used vehicles should also decline. Despite the decrease in trade-in values, auto experts are predicting higher volumes of the common purchasing strategy in upcoming months.
"It's good in a seller's standpoint in terms of selling that vehicle, and good from a buyer's standpoint because there's more out there to choose from," Ricky Beggs, vice president of Black Book, an independent vehicle pricing information website, told the news source. "Consumers still have a great opportunity to get a great return."
Potential car buyers trading in his or her vehicle in the near future may want to consider how new auto financing options could prove beneficial. Wholesale used vehicle prices have declined for the fifth straight month in a row - making an auto purchase more affordable for many consumers.