One of the most common knocks against used cars is that they don't hold value in the long run. The thought is that even if you buy a high-quality vehicle, its value depreciates so quickly that within a few years it won't be worth much at all. However, this isn't entirely true. <\/p>\n
Depreciation slows for used cars<\/strong> "Usually wholesale auction volume decreases during this time of year – and it did, again. This time, however, it fell even a bit more than normal." said Jonathan Banks, an executive analyst for the NADA Used Car Guide. "If there are less used vehicles in the marketplace, then competition increases, and values hold a little better as a result."<\/p>\n If this trend continues, it could mean good things for drivers – if they're smart about their purchases, that is. Trade-in values would be higher, allowing motorists to put more money toward a car upgrade. Those funds can go toward a down payment on a used car, which in turn leads to lower loans and monthly payments. <\/p>\n
\nA new report from the NADA Used Car Guide showed that the value of used cars is staying high. According to the organization's latest study, pre-owned vehicles currently on the market retained much of their value throughout the past month. Not to mention, the NADA Used Car Guide predicted that sticker prices will continue to drop in December, providing some chances to save.<\/p>\n