Used Car Prices Hit Record High

Used car salesman

According to the Manheim Used Vehicle Value Index, used car prices hit an all-time high in September, based on sales values and trade-in values for vehicles across the U.S. The rise is due in part to Cash for Clunkers, which shrank used car inventories. However, Manheim also attributes the spike to car rental companies, which have held onto vehicles instead of sending them to the used lots. There is some good news though: analysts suggest that used car prices have likely peaked. So if you're looking to trade in, you might want to get while the getting is good. [KickingTires]