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Take Advantage of Falling Used Car Prices Posted By : Dianne Logan
Car prices had been steadily declining over the past one or two years, despite the increase in the cost of steel and other raw materials. This is due to the sluggish demand for new cars, forcing the manufacturers to operate at very thin profit margins. Subsequently, the prices of used cars had seen a drastic fall. In the United Kingdom, a survey in June 2008 revealed that the price of cars that were between 1 and 3 years old had dropped by about 12% over a period of one year. The survey further showed that the prices of such used cars could dip by another 25% during the full year 2008.