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Best Used Cars 2013 – If you are in the market for used cars, it is possible that you will pay more than you think.
The combination of factors pushed the prices of compact and sub-compact cars higher for the first time in years, according to a new industry report. In the evaluation of used car prices by the Associated Press this week, the price of compact cars has risen from an average price of $ 12,958 in 2017 to $ 13,464 this year. While the leap is the first since 2013, it’s still below compact car prices averaging $ 14,328 that year.
According to the report, buyers of compact used cars responded to years of falling prices. They now see the low prices of compact cars as attractive options and good value. That, combined with stagnant wages and higher gas prices, makes buyers think twice about paying larger and more expensive vehicles, according to the report.
While price increases could deter people from buying compact cars, rising demand is driving a price change is a kind of revival for compact vehicles. In 2013, compact cars generated 50% of new car sales in the US, according to AP. Now, trucks and SUVs account for two-thirds of all sales. And in the used car market, a similar scenario has been played, with the SUV overtaking smaller vehicles.
Going forward, the AP industry experts are talking to believe things looking for a compact car. As gas prices continue to rise, used car buyers, who are generally eyeing their purchase value, may find compact cars as a better choice than most other vehicles.