Used car prices are way up due to a very short supply. We have actually paid more today than the exact same car we sold 2 years ago. Customers have come back to trade and we have given more money for the car than we sold it 2 years ago.GM at any given time as 15,000-20,000 cars at auctions in the entire country and any given day. We have been told that number will decrease to 1,000 cars by July. For 3 years GM, Dodge and Ford did told lease any cars and the number of cars sold to rental car companies was reduced by 80%In a September 2011 report on the state of used car industry — The Lehman Time Bomb — Automotive News noted that prices for some used cars are very close to what people are paying for a new car. That publication gave an example of a Chevrolet Malibu which, after three years of ownership, is priced just $ 2,000 less than a new MalibuUsed InventoryA shrunken inventory of used cars has pushed up prices for all used cars from late model vehicles that are only one or two years old to much older vehicles with high mileage and in fair condition at best.

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