According to Edmunds (http://www.edmunds.com/), the price for used cars has skyrocketed since Cash for Clunkers took hundreds of thousands of family vehicles and destroyed them. Prices for popular used cars like the Grand Caravan are up as much as 33%.
As the owner of a minivan with 211,000 miles on it who is wondering whether he'll be able to keep it long enough to wear out the current set of Michelins, I'm not exactly thankful. Between CAFE regulations and this, it's not exactly easy to find a good car anymore.
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1 comment:
I saw this comming over a year ago.
It is not only a problem for the affordable car market, but also the used parts market.
A double whammy! That used car ain't cheap and the repair bills are outragious.
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