Used Car Pricing
Families in the market for a used highline car might have to keep saving a little longer. National Automobile Dealers Association says the average price for a quality pre-owned vehicle will go up by 2 percent this year. That is on top of the 3 percent increase in 2011.
The biggest reason is that there are fewer cars out there. When the recession started in mid-2007, Automakers slowed down their production, which led to a sharp decrease in the number of quality used cars on the market. The uncertainty of the economy and a weak job market faced American consumers to hold on to their car much longer; according to NADA, the average car on the road today is 11 years old.
Higher gas prices are also responsible for a bigger jump in prices of used, compact, and fuel efficient cars. NADA predicts an almost 3 percent jump in the price for car in this category this year. That being said, you should be able to get a good deal on a gas-guzzling fill size SUVs or Pick-up depending on what market you are in.
The good news for all of us is that new car sales are up this year, so the inventory shortage will not last forever.
As American families finally start to trade in the older vehicles they held onto during the recession, NADA is predicting 13.9 million new car/truck sales for 2012. A lack of access to financing to many struggling families also put the brakes on used car sales; this year, lenders will make credit more available. Most Dealers are trying keep up the momentum that started last year when 12.8 million vehicles were sold, so there are plenty of incentives for perspective buyers to starting looking for that new ride.
Select Luxury Cars, located in Marietta, Ga. on Highway 41, hand “Selects” every vehicle. We specialize in the highest quality automobiles available in the market. Whether you live here in the Atlanta area or anywhere around the world, we will find the exact car you are dreaming of. If you are looking for a Mercedes, BMW, Porsche, Audi, Bentley, Rolls-Royce, Ferrari or other high end model, begin your search here and we won’t disappoint.