Used car prices continue to climb

January 13, 2014 12:00 AM

Used cars have always been an intriguing options for drivers - particularly those who are on a budget. These pre-owned vehicles can offer quality and value for buyers, along with low-impact vehicle maintenance and minimal auto repair, but drivers have to know where to look. 

According to recent data from the NADA Used Car Guide, the average cost of a used car increased for the fifth consecutive year. At the end of December 2013, the sticker prices of vehicles were up 0.4 percent from the same time the year before. 

Among all used cars, the demand for pickup trucks appears to remain high in the coming years. With many new, high-profile introductions heading to the open market in the next several months, there should be even more used trucks becoming available to buyers. 

"Demand for both new and used full-size pickup trucks was extremely high last year," said Jonathan Banks, an auto analyst for the NADA Used Car Guide. "The segment is unique because it supports both consumer and commercial needs, and the fact that used full-size pickups lost about 8 percent of their value last year is clear evidence that America's love affair with the segment remains strong." 

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