DETROIT - it's the best time in years, to sell your car.
People are held on cars and trucks for about a year longer than even before the recession, which has created a tight supply of used vehicles. So few are in the market, the prices have risen to their highest in at least 16 years.
Dealers pay an average of $11,660 for a used car or truck, to almost 30 percent since December 2008.
The 'Black Mancession' your career: the great recession black men has been also known as the "Mancession" because men have been hit so hard, but worse. Life Inc.: The doc Bill is here life Inc.: another way the rich richer what home buyers can get for $ 200,000"You will not find a situation like this often," says Jonathan banks, executive car analyst for the National Automobile Dealers Association used car pricing guides.
In the run-up to the prices for used cars was so dramatic that it almost makes sense, they buy more, says David Whiston, an auto analyst for Morningstar. This is probably a good indication of the prices are at or near a peak.
He says "For only a little more I a new car to buy,". "A point there." "I think we are very close to see always."
Take the Honda accord to keep known reliability and its value. A dealer would sell one 2008 cylinder LX accord sedan in good condition with about 45,000 miles on you for $16,175.
With no deposit and a loan at 5 percent interest it costs you $373 per month to pay off the agreement in four years. But Honda offers a three year lease on a new accord 2011 for only $250 per month. The company will make the first payment. You have still, for every mile of 12,000 annually take $600 front and pay 15 cents.
In Greensboro, n.c., Jeremy Barnes and his wife expected their first child so they decided to replace a white accord 2007 with a bigger, new vehicle. He was not sure what could get them for the accord, if he checks prices on the website Kelley Blue book.
"I was pleasantly surprised," says Barnes, 30, a heating and air conditioning equipment seller.
He calls $15,200 for the car, which is in good shape and 47,000 miles on it. While waiting for a buyer, find the pair on vehicles such as the Jeep Grand Cherokee.
Used car price increases is a by-product of the recession. The average car on the road is old now 10.6 years, into the Polk research firm. Which is taken up by 9.8 years a few months before the recession in the middle of 2007, and began to rethink big purchases.
Another source for used cars was smothered, if during the 2008 financial crisis, and car companies cut back new credit tightened on leasing. Company sell cars rented as possible, when leases expire.
Japan's earthquake and tsunami drive the price of some used cars. New models of some small cars like the Toyota Prius and Honda fit, will be said is expected shortly. Traders are used, buy to sell on their behalf. That won't last, though.
Manheim, a large auction house, where dealers buy used cars, says that prices are the highest this year, since 1995, the company began to collect data. Tom Webb, Chief Economist predicts, that used car prices will rise to two more months and then away. You can will end in 2012 and beyond, as more cars used on the market.
There are already signs, used car prices are falling. Leasing was 21 percent of U.S. sales in February, which was 11 percent in 2009, according to Experian Automotive. As a three-year leases end should, more used cars on the market bring.
Banks and car have relaxed company financial arms for people with poor credit rating and credit, which means more buyers get a loan for a new car.
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