By Associated Press
DETROIT – It's the best time in years to sell your car.
People are holding on to cars and trucks for about a year longer than they did before the recession, which has created a tight supply of used vehicles. So few are on the market that prices have risen to the highest in at least 16 years.
Dealers are paying an average of $11,660 for a used car or truck, up almost 30 percent since December 2008.
"You're not going to find a situation like this very often," says Jonathan Banks, executive analyst for the National Automobile Dealers Association used car pricing guide.
The run-up in prices for used cars has been so dramatic that it almost doesn't make sense to buy them anymore, says David Whiston, an auto analyst for Morningstar. That's probably a good indication that prices are at or near a peak.
Read more: http://www.sacbee.com/2011/05/21/3642694/its-a-good-time-to-sell-a-used.html#ixzz1N0Beihha
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