Used car prices still rising

May 10, 2011 3:40:58 PM PDT
Used car prices hit a record high last month, and they are still rising.

Kelly Blue Book says the biggest increases are for fuel-efficient cars and small SUVs, where prices are up as much as 20 percent since January.

The reason? Supply and demand.

New car dealerships are facing shortages due to production cutbacks during the recession and now from the Japanese earthquake and tsunami. So the demand for used cars is up.

In some cases buyers are finding that a new car might be a better deal.

Load Comments