Values of small used cars fall in lockstep with gas prices

The Detroit News reports used small-car prices are plummeting right along with fuel prices. The news comes courtesy of a National Automobile Dealers Association study, which says gas prices have dropped an average of 3.5 per cent compared to last year. In yet another shocking reminder of just how short buyers' memories can be, analysts predict light trucks will take home the largest share of car sales this month. Even so, used car sales in general are expected to fall off by around two per cent. Truck sales, meanwhile, will likely only see a 1 per cent dip.

Compare that to used compact and mid-sized models, which are expected to see their values drop by 2.4 per cent. Dealers may have a hard time selling used hybrids in the coming months. That's good news for buyers who've been waiting to jump into a more fuel efficient model. After all, it's not a question of if gas prices will climb back up, but when.