By Kelsey Mays on May 8, 2012
Used-car prices may be easing for the first time in six months. Automotive News reports that Atlanta-based Manheim's benchmark Used Vehicle Value Index fell to 126.1 last month, ending six months of increases. Used-car prices spiked in the wake of fewer new-car sales during the recession, so April's figures could be a sign they're starting to recede, which is something analysts predicted could happen in May or June. CNW Marketing Research said last month that the average used car sold for $10,971 at a franchised dealership — down just $80 from a year ago. It's the first time in four months the figure has dropped. This is welcome news for used-car shoppers, but time will tell if this signals real relief or just a spring thaw.
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Senior Consumer Affairs Editor Kelsey Mays likes quality, reliability, safety and practicality. But he also likes a fair price. Email Kelsey