The change in wholesale prices may not seem like a lot, but they reflect a steady decline. (Read More: Used Car Prices Starting to Fall.)
One that many believe will continue as the pent up demand in the market continues to drive owners of seven, nine, even 10 year old cars and trucks to upgrade with a new vehicle instead of a used one. The gap in pricing between new and used remains small enough that many buyers looking for an upgrade are deciding to buy new instead of going with a three or four year old used model. And as financing has expanded to include more buyers with subprime and deep subprime buyers, many who used to be boxed out of the new car market are now finding more options. (Read More: Chinese Second-Hand Car Market Revs Up.)
In other words, they no longer are restricted just to the used car market.
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