Used car prices rise again

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Written By: admin

Except for some Toyotas models, used vehicle prices continue to escalate, according to recent data from multiple sources. Whether we’re talking average retail transaction prices as reported by Edmonds, auction numbers, things continue to heat up. That’s due to shortages of desirable new cars, trucks, and crossovers, and the easing of credit restrictions from banks.

ADESA, the country’s second-largest auction group, reported that the average price at their sales was up 3 percent in February over the month before; large SUVs were up 11 percent over a year earlier. And based on what I see, things only increase from there into spring, which is the beginning of peak season.

An exception is Toyota’s cars that are affected by recalls and negative publicity, especially the Camry and Corolla. Compounding this is that many rental companies are turning in huge numbers of these models right now. But so far, Tacoma pickups and SUVs, and crossovers like the 4Runner, Highlander, and Sequoia are as strong as ever at retaining value.

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