Used Car Prices Reprieve From Recession

Illustration for article titled Used Car Prices Reprieve From Recession

The supply of used cars is back on the rise thanks to, you guessed it, more new cars being sold.

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The National Automobile Dealers Association (NADA) predicts prices on one-t0-three year old cars to fall 1.5 percent this year compared to 2012, as the grip of the recession loosens and more consumers return to new-car showrooms.

NADA cites a 9.1 percent increase of new "light vehicle" sales in quarter three of 2013 from quarter three of last year as well as an influx of 2011 cars coming off-lease as major boosts to the near-future used car supply. If you didn't sleep through economics, you too would interpret that as an impending decrease in price.

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So far, Black Book cites a decline in average prices of $74 per used car in the past week, and Cars.com reports a $16 drop in late-model used car averages from August.

Photo: Manheim Auto Auctions

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DISCUSSION

JasonSpeed

Let me know when I can buy a good 5 year old WRX for $12k again.