Experian has just released its current statistics on used vehicles. They report an additional decline in sales last year. They are warning dealerships that 2008 may show little change because consumers are remaining cautious.

Although pre-owned vehicle sales have had an overall fall, older vehicles between 5-7 yrs old reported a sales increase of 3.3%. This is more of an increase than any of the other age groups.

The popularity of these older vehicles may be associated with the difficulty that motorists are experiencing when trying to get a loan from the bank. Also, consumers can pay less, either outright, or get a loan that is smaller.

In staying true to previous years, the SUV, MPV and sports vehicle segments have seen an increase in sales, despite the drop in all of the other segments.

In this tough economy people are cautious about purchasing any vehicle, new or used. Many people are opting to hold onto their older vehicles, and purchase an auto warranty to protect their tried and true.