GasBuddy News Article

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Used-car prices are starting to come down

LA Times -- Used-car prices, which had shot up in recent years, are starting to fall.

Easing gasoline prices in much of the nation and more trade-ins from a pickup in new-car sales are behind the decrease.

Used-car prices are expected to decline 2% in June from May, according to the National Automobile Dealers Assn. Used Car Guide. Used truck prices are expected to fall 1%.

Some used cars, especially fuel-efficient autos, will see much larger drops, the association said, as falling gas prices reduces demand for the vehicles.

The decline is evident in the latest prices for several of the bestselling passenger cars.

The price of a 2009 Toyota Camry rose 15% to $13,235 from January to May, but is projected to fall back $675, or 5%, to $12,560 in June.

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Submitted May 31, 2012 By: BurntOrange

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Dodge_Me Champion Author Atlanta Posts:2,214 Points:556,230 Joined:Mar 2006	Message Posted: Jun 1, 2012 12:40:27 AM Ignore Dodge_Me Report Abuse Yeah, prices are coming down because our cars are getting so old and have so many miles on them that we are starting to have a problem finding parts, sooooo they are becoming worthless
SparkieMi Champion Author Kalamazoo Posts:3,263 Points:588,425 Joined:Sep 2011	Message Posted: Jun 1, 2012 12:17:46 AM Ignore SparkieMi Report Abuse Great...
jetskijerry Champion Author North Carolina Posts:3,901 Points:773,245 Joined:Mar 2011	Message Posted: Jun 1, 2012 12:14:51 AM Ignore jetskijerry Report Abuse I need a new used car.
jetskijerry Champion Author North Carolina Posts:3,901 Points:773,245 Joined:Mar 2011	Message Posted: Jun 1, 2012 12:14:39 AM Ignore jetskijerry Report Abuse That's good.
miser709 Champion Author Grand Rapids Posts:1,268 Points:1,069,925 Joined:Mar 2004	Message Posted: Jun 1, 2012 12:13:18 AM Ignore miser709 Report Abuse I'm seeing a lot more used vehicles for sale on the side of the roads I travel. More used cars available as people are buying new ones
bvrbill Champion Author Eugene Posts:3,223 Points:518,850 Joined:Jul 2011	Message Posted: Jun 1, 2012 12:12:55 AM Ignore bvrbill Report Abuse It seems as if used car sales reflects supply and demand. Unlike oil, where prices seem to be independent of supply and demand.
crashintuc34 Champion Author Tucson Posts:4,052 Points:811,890 Joined:May 2010	Message Posted: Jun 1, 2012 12:09:39 AM Ignore crashintuc34 Report Abuse Alrighty then.
Ahking Champion Author Orange County Posts:3,507 Points:603,450 Joined:May 2011	Message Posted: Jun 1, 2012 12:05:23 AM Ignore Ahking Report Abuse 2% down expected but then it has already gone up 12% - not the right way old price prices should go.
N5EXY Champion Author Austin Posts:5,492 Points:1,510,380 Joined:Jul 2004	Message Posted: Jun 1, 2012 12:04:59 AM Ignore N5EXY Report Abuse YeahBut - who is gonna buy 'em? Lotsa them are repos from people without a job and no one can afford one without a job - low demand high supply. Obanomics at work. 159 days until the ejection.
regout Champion Author Quebec Posts:2,955 Points:832,705 Joined:May 2010	Message Posted: Jun 1, 2012 12:03:46 AM Ignore regout Report Abuse Good for those who want to buy used cars.
JamesCalvin Champion Author Lancaster Posts:3,186 Points:519,555 Joined:Nov 2011	Message Posted: Jun 1, 2012 12:02:27 AM Ignore JamesCalvin Report Abuse Hey! We need a nuther "Cash for clunker" so we can hope for change!
jem069 Champion Author Detroit Posts:2,543 Points:688,055 Joined:Jan 2011	Message Posted: Jun 1, 2012 12:01:28 AM Ignore jem069 Report Abuse Ok
USCCRN Sophomore Author Long Island Posts:145 Points:104,240 Joined:Mar 2012	Message Posted: Jun 1, 2012 12:00:18 AM Ignore USCCRN Report Abuse Used car prices have been inexpensive for the past 4 years.
Tucker1961 Champion Author Seattle Posts:2,157 Points:363,170 Joined:Jun 2009	Message Posted: May 31, 2012 11:57:02 PM Ignore Tucker1961 Report Abuse ok
bonzoonfmb Champion Author Florida Posts:1,782 Points:645,035 Joined:Feb 2010	Message Posted: May 31, 2012 11:56:36 PM Ignore bonzoonfmb Report Abuse Used car prices are too high for the value right now.
kgbellman Champion Author Ann Arbor Posts:2,713 Points:731,840 Joined:Mar 2011	Message Posted: May 31, 2012 11:55:51 PM Ignore kgbellman Report Abuse Ya gotta save money somehow, glad used prices are going down because you can't necessarily afford a new car
OWENALOTT Champion Author Appleton Posts:2,182 Points:500,095 Joined:Apr 2011	Message Posted: May 31, 2012 11:53:53 PM Ignore OWENALOTT Report Abuse k
SandeeC Champion Author Ontario Posts:2,993 Points:460,705 Joined:Apr 2011	Message Posted: May 31, 2012 11:53:45 PM Ignore SandeeC Report Abuse Haven't seen this around here!
srchr Champion Author San Jose Posts:7,254 Points:1,620,050 Joined:Apr 2008	Message Posted: May 31, 2012 11:52:59 PM Ignore srchr Report Abuse active market
txkrb Champion Author Texas Posts:1,561 Points:639,300 Joined:May 2011	Message Posted: May 31, 2012 11:51:56 PM Ignore txkrb Report Abuse Over the past couple of years 1-2 year old used cars were too expensive for just a little more you could get a new car When I bought by daughter a car a couple of years ago a new Nissan Sentra was just $2,000 more than a 1-2 year old model with over 20,000 miles on them
sillywagon Champion Author New York Posts:14,891 Points:1,442,095 Joined:Oct 2008	Message Posted: May 31, 2012 11:46:33 PM Ignore sillywagon Report Abuse Most of this article is nonsense... down 2% in June? As if saving 2% from last month is a good price. Sigh. At least near the end of the article it says that during the recession fewer 2009 and 2010 vehicles were built reducing the number of used cars available. Bus with new car sales increasing the last few years... that will lead to a greater supply of used cars in the next few years. Greater supply leading to lower prices. And as for low trade in values... hold onto your current vehicle until it isn't needed and just sits around, or isn't worth repairing. [Edited by: sillywagon at 5/31/2012 11:48:06 PM EST]
mstearno Champion Author Dayton Posts:8,071 Points:1,732,210 Joined:Jan 2008	Message Posted: May 31, 2012 11:45:15 PM Ignore mstearno Report Abuse big deal
boatmen Champion Author New York Posts:3,085 Points:622,805 Joined:Jan 2011	Message Posted: May 31, 2012 11:44:25 PM Ignore boatmen Report Abuse all car prices coming down there is no extra money after feeding our family's we are repairing rather than buying
suzmar Champion Author Texas Posts:2,212 Points:872,740 Joined:Jun 2006	Message Posted: May 31, 2012 11:44:20 PM Ignore suzmar Report Abuse Doesn't seem like a significant decrease.
jackster111 Champion Author North Carolina Posts:3,327 Points:425,560 Joined:Feb 2012	Message Posted: May 31, 2012 11:42:40 PM Ignore jackster111 Report Abuse awesome great!
mcmonsta Champion Author Honolulu Posts:3,227 Points:818,545 Joined:Sep 2009	Message Posted: May 31, 2012 11:41:12 PM Ignore mcmonsta Report Abuse keep it in good or better condition and you can sell at a premium
ravenclaw_29 Rookie Author Oakland Posts:53 Points:11,410 Joined:Jan 2012	Message Posted: May 31, 2012 11:40:11 PM Ignore ravenclaw_29 Report Abuse OK
DancingDee Champion Author Gary Posts:4,382 Points:1,055,850 Joined:Jul 2005	Message Posted: May 31, 2012 11:36:12 PM Ignore DancingDee Report Abuse Very good news!!!!
bginsj Champion Author San Jose Posts:1,873 Points:1,235,160 Joined:May 2009	Message Posted: May 31, 2012 11:34:35 PM Ignore bginsj Report Abuse interesting
Jeannemarie Champion Author Las Vegas Posts:27,700 Points:2,035,640 Joined:Aug 2005	Message Posted: May 31, 2012 11:32:57 PM Ignore Jeannemarie Report Abuse Oddly enough we have never had to sell our cars as used vehicles as people chase us around leaving notes etc. When you are ready to sell you car let me know is the gist of them. Last 7 cars we (p/u trucks in this group) sold were to private parties and at the top of the Kelley Blue Book. MOstly because of low mileage and fantastic condition.
PetroScopper Champion Author Houston Posts:6,622 Points:1,549,975 Joined:Aug 2008	Message Posted: May 31, 2012 11:30:42 PM Ignore PetroScopper Report Abuse I'm glad to hear that the prices are starting to fall on used vehicles. That is usually the purchase I will make- after the vehicle is about two years old.
Shakleelady31 All-Star Author Fort Wayne Posts:571 Points:401,600 Joined:Jan 2012	Message Posted: May 31, 2012 11:30:07 PM Ignore Shakleelady31 Report Abuse Okay, that's good.
IUVidiot Champion Author Indiana Posts:3,590 Points:709,335 Joined:Jun 2011	Message Posted: May 31, 2012 11:29:10 PM Ignore IUVidiot Report Abuse hmmmm
abcdMA Champion Author Worcester Posts:7,927 Points:1,575,955 Joined:Nov 2008	Message Posted: May 31, 2012 11:23:36 PM Ignore abcdMA Report Abuse 2%---WOW!!!
Jeeputtputt Champion Author Ohio Posts:3,002 Points:677,465 Joined:Aug 2009	Message Posted: May 31, 2012 11:23:19 PM Ignore Jeeputtputt Report Abuse just more speculation
bif65 Champion Author Virginia Posts:1,023 Points:195,480 Joined:Jan 2011	Message Posted: May 31, 2012 11:20:00 PM Ignore bif65 Report Abuse ok
GoGoGoodyear Champion Author Los Angeles Posts:2,053 Points:508,060 Joined:Mar 2010	Message Posted: May 31, 2012 11:18:43 PM Ignore GoGoGoodyear Report Abuse Back in '87 I bought a brand new truck at the dealer and paid just about $9,000 for it. It still runs well and gets good mileage. I don't see a need for another vehicle with prices as high as they are.... and then with a newer vehicle the registration and insurance go up as well. The state gets enough of my income as it is.
lou30 Sophomore Author Miami Posts:187 Points:321,190 Joined:Mar 2011	Message Posted: May 31, 2012 11:18:29 PM Ignore lou30 Report Abuse I guess that's good. But how significant will that change be to a person looking for a car, when they were already expecting to put down that many thousands. Good though.
carman11 Champion Author North Carolina Posts:3,342 Points:692,700 Joined:Jun 2011	Message Posted: May 31, 2012 11:17:47 PM Ignore carman11 Report Abuse OK THIS IS OLD AS TIME.
RitaVespa Champion Author Oregon Posts:2,981 Points:792,260 Joined:Jan 2011	Message Posted: May 31, 2012 11:17:10 PM Ignore RitaVespa Report Abuse finally
tippybuddy Champion Author Ontario Posts:1,523 Points:207,740 Joined:Feb 2011	Message Posted: May 31, 2012 11:15:58 PM Ignore tippybuddy Report Abuse good that is great news
esq262 Champion Author Asheville Posts:2,902 Points:648,490 Joined:Jul 2011	Message Posted: May 31, 2012 11:13:31 PM Ignore esq262 Report Abuse Good news.
Eugenian Champion Author Oregon Posts:1,862 Points:362,130 Joined:Oct 2009	Message Posted: May 31, 2012 11:11:18 PM Ignore Eugenian Report Abuse A used car can be a really good value, especially if you buy direct from the original owner instead of from a dealer (a.k.a. a scum-sucking, greedy middleman).
donnamarieb333 Veteran Author South Carolina Posts:397 Points:181,340 Joined:May 2011	Message Posted: May 31, 2012 11:09:57 PM Ignore donnamarieb333 Report Abuse maintenance on quality automobiles always is cheaper than a new or a "new" used car... get a good mechanic and love the car you already own...
nztyraider Champion Author Nevada Posts:2,273 Points:694,075 Joined:Apr 2009	Message Posted: May 31, 2012 11:09:53 PM Ignore nztyraider Report Abuse Dealerships are finally waking up.
must87searcher Champion Author Maryland Posts:8,982 Points:1,780,450 Joined:Apr 2008	Message Posted: May 31, 2012 11:07:19 PM Ignore must87searcher Report Abuse With high prices and low economy, sales are for a number of things will drop. The price of autos have been going up and up, so the sales should have fallen a bit. Now they are getting a larger fell.
Buffalo Joe Champion Author Alberta Posts:8,596 Points:2,508,875 Joined:Feb 2003	Message Posted: May 31, 2012 11:06:20 PM Ignore Buffalo Joe Report Abuse And NEW car prices go up.
TBRR Champion Author Jacksonville Posts:3,672 Points:599,320 Joined:Dec 2007	Message Posted: May 31, 2012 11:05:07 PM Ignore TBRR Report Abuse only interested in buying a new one with a long term warranty.
jerej829 Champion Author Memphis Posts:2,856 Points:693,965 Joined:May 2011	Message Posted: May 31, 2012 11:05:02 PM Ignore jerej829 Report Abuse Ok
miiike572 All-Star Author Phoenix Posts:798 Points:525,790 Joined:Apr 2009	Message Posted: May 31, 2012 11:03:11 PM Ignore miiike572 Report Abuse ...