Changes to supply are bringing down prices of used cars

July 15, 2013 12:00 AM

Drivers who are shopping around for a used car are always on their toes, looking for a good deal. Finding a vehicle with minimal auto repair needed, as well as newer features and easy vehicle maintenance, is of paramount importance for many motorists. 

The Arizona Daily Star reports that used car prices have been steadily falling since 2011, and this trend is expected to continue for the rest of 2013. Experts from Kelley Blue Book anticipate that the cost for pre-owned vehicles will drop by $1,000 from now until the end of the year, and motorists can expect to pay 25 percent to 30 percent less than the suggested retail price for a new model, the news source reports. 

A surplus of used cars flooding the market has contributed to the decreasing costs. This is good news for prospective buyers, who will have more funds to spend on things like car repairs or special features. 

Green cars are also becoming more affordable. For example, Nissan announced that its 2013 Leaf would feature a sticker price of more than 20 percent lower than in years past, according to TreeHugger. The cost hovers around $28,800, but after federal and state tax credits, the price drops to approximately $19,000. 

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