It’s not a surprise that dealers would say this, at least those in Colorado Springs, but according to them used cars are about to get a whole lot tougher to find and cost a whole lot more.
Basically, it’s Cash For Clunkers that did the used car in, say dealers, who further elaborate that the wholesale market for used cars has seen price hikes of two to three thousand dollars. Most of the cars that would have gone onto used car lots are now instead languishing and waiting their inevitable destruction after they’d been traded for better, more fuel efficient rides.
Clever, really–with fewer used cars on the market, more people in need of a new car will have little choice but to buy new. Of course, this is all sort of a joke anyway, because in about two to three years, all the new cars today will probably wind up as used cars when people go to trade them in on new cars once again. Sure, consumer spending is down, but it’s not out, and a new car will always be high on some folks’ lists.
Tags: buying a used car, Cash for Clunkers, dealers, used car, used car market
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