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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
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Used-car prices are starting to come down Back to Topics
REPLIES (newest first) Post a Reply
Dodge_Me
Champion Author Atlanta

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Message Posted: Jun 1, 2012 12:40:27 AM

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

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Message Posted: Jun 1, 2012 12:17:46 AM

Great...
jetskijerry
Champion Author North Carolina

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Message Posted: Jun 1, 2012 12:14:51 AM

I need a new used car.
jetskijerry
Champion Author North Carolina

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Message Posted: Jun 1, 2012 12:14:39 AM

That's good.
miser709
Champion Author Grand Rapids

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Message Posted: Jun 1, 2012 12:13:18 AM

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

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Message Posted: Jun 1, 2012 12:12:55 AM

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

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Message Posted: Jun 1, 2012 12:09:39 AM

Alrighty then.
Ahking
Champion Author Orange County

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Message Posted: Jun 1, 2012 12:05:23 AM

2% down expected but then it has already gone up 12% - not the right way old price prices should go.
N5EXY
Champion Author Austin

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Message Posted: Jun 1, 2012 12:04:59 AM

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

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Message Posted: Jun 1, 2012 12:03:46 AM

Good for those who want to buy used cars.
JamesCalvin
Champion Author Lancaster

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Message Posted: Jun 1, 2012 12:02:27 AM

Hey!

We need a nuther "Cash for clunker" so we can hope for change!
jem069
Champion Author Detroit

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Message Posted: Jun 1, 2012 12:01:28 AM

Ok
USCCRN
Sophomore Author Long Island

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Message Posted: Jun 1, 2012 12:00:18 AM

Used car prices have been inexpensive for the past 4 years.
Tucker1961
Champion Author Seattle

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Message Posted: May 31, 2012 11:57:02 PM

ok
bonzoonfmb
Champion Author Florida

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Message Posted: May 31, 2012 11:56:36 PM

Used car prices are too high for the value right now.
kgbellman
Champion Author Ann Arbor

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Message Posted: May 31, 2012 11:55:51 PM

Ya gotta save money somehow, glad used prices are going down because you can't necessarily afford a new car
OWENALOTT
Champion Author Appleton

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Message Posted: May 31, 2012 11:53:53 PM

k
SandeeC
Champion Author Ontario

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Message Posted: May 31, 2012 11:53:45 PM

Haven't seen this around here!
srchr
Champion Author San Jose

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Message Posted: May 31, 2012 11:52:59 PM

active market
txkrb
Champion Author Texas

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Message Posted: May 31, 2012 11:51:56 PM

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

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Message Posted: May 31, 2012 11:46:33 PM

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

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Message Posted: May 31, 2012 11:45:15 PM

big deal
boatmen
Champion Author New York

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Message Posted: May 31, 2012 11:44:25 PM

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

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Message Posted: May 31, 2012 11:44:20 PM

Doesn't seem like a significant decrease.
jackster111
Champion Author North Carolina

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Message Posted: May 31, 2012 11:42:40 PM

awesome great!
mcmonsta
Champion Author Honolulu

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Message Posted: May 31, 2012 11:41:12 PM

keep it in good or better condition and you can sell at a premium
ravenclaw_29
Rookie Author Oakland

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Message Posted: May 31, 2012 11:40:11 PM

OK
DancingDee
Champion Author Gary

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Message Posted: May 31, 2012 11:36:12 PM

Very good news!!!!
bginsj
Champion Author San Jose

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Message Posted: May 31, 2012 11:34:35 PM

interesting
Jeannemarie
Champion Author Las Vegas

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Message Posted: May 31, 2012 11:32:57 PM

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

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Message Posted: May 31, 2012 11:30:42 PM

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

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Message Posted: May 31, 2012 11:30:07 PM

Okay, that's good.
IUVidiot
Champion Author Indiana

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Message Posted: May 31, 2012 11:29:10 PM

hmmmm
abcdMA
Champion Author Worcester

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Message Posted: May 31, 2012 11:23:36 PM

2%---WOW!!!
Jeeputtputt
Champion Author Ohio

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Message Posted: May 31, 2012 11:23:19 PM

just more speculation
bif65
Champion Author Virginia

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Message Posted: May 31, 2012 11:20:00 PM

ok
GoGoGoodyear
Champion Author Los Angeles

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Message Posted: May 31, 2012 11:18:43 PM


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

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Message Posted: May 31, 2012 11:18:29 PM

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

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Message Posted: May 31, 2012 11:17:47 PM

OK THIS IS OLD AS TIME.
RitaVespa
Champion Author Oregon

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Message Posted: May 31, 2012 11:17:10 PM

finally
tippybuddy
Champion Author Ontario

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Message Posted: May 31, 2012 11:15:58 PM

good that is great news
esq262
Champion Author Asheville

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Message Posted: May 31, 2012 11:13:31 PM

Good news.
Eugenian
Champion Author Oregon

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Message Posted: May 31, 2012 11:11:18 PM

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

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Message Posted: May 31, 2012 11:09:57 PM

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

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Message Posted: May 31, 2012 11:09:53 PM

Dealerships are finally waking up.
must87searcher
Champion Author Maryland

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Message Posted: May 31, 2012 11:07:19 PM

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

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Message Posted: May 31, 2012 11:06:20 PM

And NEW car prices go up.
TBRR
Champion Author Jacksonville

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Message Posted: May 31, 2012 11:05:07 PM

only interested in buying a new one with a long term warranty.
jerej829
Champion Author Memphis

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Message Posted: May 31, 2012 11:05:02 PM

Ok
miiike572
All-Star Author Phoenix

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Message Posted: May 31, 2012 11:03:11 PM

...
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