Used car prices fall in September - Auto News - LatestCarsWallpapers.com

According to ADESA Analytical Services, wholesale used car prices fell 2.1 percent last month. Moreover, ADESA expects that downward trend to continue for the rest of the year.

"We've seen a little more than seasonal decline, through the summer especially," Tom Kontos, executive vice president of ADESA, told The Detroit News. "I'd expect prices in the fourth quarter to be a little bit softer."

Used car prices have been soaring for the last several months due to lower supply levels. New car sales have been down from historical highs over the last three years, leading to fewer used cars entering the market. However, demand has remained essentially unchanged, leading to a surge in used car values.

That trend is starting to level out due to increasing new car sales in the U.S. : hence the lower used car wholesale values : but buyers should still have a few months to take advantage of current market conditions.

"It's good in a seller's standpoint in terms of selling that vehicle, and good from a buyer's standpoint because there's more out there to choose from," said Ricky Beggs, vice president of Black Book. "Consumers still have a great opportunity to get a great return."
Source: Leftlanenews

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