Jonathan Banks
Executive Automotive Analyst
NADA Used Car Guide
September saw a seasonal price drop typical during this month – dropping 2.6% and ending a three-month period where depreciation was staying at 1.2%; While larger than recent months, it was one-tenth of a point less severe than the 2.7% average for that month from 2005 to 2012. NADA seasonally-adjusted used vehicle price index went up to 124.8, one tenth of a point higher than August.
Click here to read the latest NADA Used Car Guide
Even with Budget Battle and Debt Ceiling Debates, Expect Prices to be Unscathed:
Expect used vehicle prices to finish year 0.5% to 1% higher than 2012’s record level.
Trade-in Values in September Reduced by Mild Average of 1.4%:
Followed familiar pattern with cars higher than trucks – down 1.6% and 1%, respectively.
Auction Transactions for Vehicles up to 8 Years Old Grew by 0.3% While August Had Seen 2.2% Decline:
September’s rise mostly to do with 24% increase in 2013 vehicles from rental companies.