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Planned on buying a used car? Think again, prices are rising ...

Lately, the used car market has thrived as the new car market has struggled. The problem for consumers is that used vehicle demand has outstripped supply, sending prices skyward. It's not unusual for price tags to be up $3,000 in some product segments in the last five years. And the classic "beater" – a high-mileage, $1,500 used car that can handily take you around town on your errands – is fast becoming a thing of the past, according to some auction houses.


Asked by tasches at 6:31 PM on Jan. 3, 2011 in Money & Work

Level 48 (298,202 Credits)
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Answers (4)
  • My husband is in the car bussiness. You are right, used cars are going for a high dollar price right now.

    Answer by dancinintherain at 6:33 PM on Jan. 3, 2011

  • Cash for clunkers might have had some to do with it. Alot of used cars were put out to pasture when people took the credit for a new car. I know my husband and I looked around for a "clunker" just to get him to and from work over the past couple of weeks and were astonished lol. We decided to keep the one we have and buy a brand new car. Id rather pay monthly, which btw seems not as expensive as buying a financed used car, and have a warranty then end up with a crappy car from a used car place that wont get fixed when it breaks down.

    Answer by gemgem at 6:36 PM on Jan. 3, 2011

  • We always buy new. I like the warranty and peace of mind.

    Answer by Mom2Just1 at 8:25 PM on Jan. 3, 2011

  • It's supply and demand I guess.

    Answer by Erica_Smerica at 2:37 AM on Jan. 5, 2011