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Used Trucks, SUV Values Going Up
Since January, prices of used vehicles rose in value by over 17 percent, according to two reports that came out the past few days.
Juan Flores, director of Kelley Blue Book's director of vehicle valuation, explained the increase in pickup values to a reversal to the sudden plunge of car values last year when gasoline prices peaked at $4 a gallon in summer. Flores recalled that as 2008 ended, truck prices were plummeting by $1,000 every few week.
Following the rise in truck values, Flores said a second-hand 2007 Chevrolet Silverado Crew Cab 1500 which had a $13,250 price tag on February 1, had an adjusted price of $16,600 at the start of March.
For the same period a 2007 Chevrolet Tahoe worth $18,800 in February had jumped in value to $21,700 at the beginning of the month. Flores added the hike in prices is also caused by motorist preference for used vehicles over brand new, but pricier ones.
Similar results were reported by the Manheim Consulting, a car auction firm based in Atlanta, Georgia.
Meanwhile, Kelley Blue Book named five brand new car models considered as great deals in terms of zero percent financing, cash back and low payment leases. Kelley named the car models as the 2010 Kia Soul, 2009 Ford Flex, 2009 Honda Accord LX, 2009 Pontiac G8 and 2008 Suzuki SX4 Sedan.
Juan Flores, director of Kelley Blue Book's director of vehicle valuation, explained the increase in pickup values to a reversal to the sudden plunge of car values last year when gasoline prices peaked at $4 a gallon in summer. Flores recalled that as 2008 ended, truck prices were plummeting by $1,000 every few week.
Following the rise in truck values, Flores said a second-hand 2007 Chevrolet Silverado Crew Cab 1500 which had a $13,250 price tag on February 1, had an adjusted price of $16,600 at the start of March.
For the same period a 2007 Chevrolet Tahoe worth $18,800 in February had jumped in value to $21,700 at the beginning of the month. Flores added the hike in prices is also caused by motorist preference for used vehicles over brand new, but pricier ones.
Similar results were reported by the Manheim Consulting, a car auction firm based in Atlanta, Georgia.
Meanwhile, Kelley Blue Book named five brand new car models considered as great deals in terms of zero percent financing, cash back and low payment leases. Kelley named the car models as the 2010 Kia Soul, 2009 Ford Flex, 2009 Honda Accord LX, 2009 Pontiac G8 and 2008 Suzuki SX4 Sedan.
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