Wholesale prices of late-model, fuel-efficient used cars peaked in June but will be higher in August than they were in January, predicts the senior analyst at NADA Used Car Guide.
Jonathan Banks says prices of some popular, 2006-09 cars such as Toyota Prius, are expected to be as much as 30 percent higher next month than they were at the first of the year.
Used-vehicle prices typically peak in March and depreciate about 15 percent by year end, Banks says. But because of a tighter supply and strong demand for used vehicles, prices peaked in June. And prices of some fuel-efficient cars are expected to be 10 percent to 30 percent higher in August than in January.
For example, data compiled by NADA guide predicts that the average wholesale price of a 2006-09 Prius in August will be $15,925. That is almost 8 percent below its peak of $17,275 in June and 30 percent higher than the average price of $12,225 in January.