Used vehicles with good economy that at one time would have been hard for dealers to sell, such as the Chevrolet Aveo and Ford Focus, are now being sold at record speed, and their prices have gone up.  According to J.D. Power & Associates, the ten pre-owned cars with the prices rising the fastest include the Kia Spectra, which is up almost 8%, and the Hyundai Elantra, which is almost 9% higher.  Just a couple of years ago this list was dominated by large, luxurious cars, such as the Lexus LS Series.

Some prices of used cars are even getting close to that of new cars.  For example, the 2006 Honda Civic has an average cost of $16,118, which is 86% of the price of a new 2008 Civic.  A 2006 used BMW Mini Cooper is approximately 81% of the price of a 2008 model.  Usually, cars that are three-years old will cost around 50%-60% of the price of their new equivalent.

This trend creates an opportunity for carmakers to make premium compact cars instead of larger, luxury cars that aren’t as fuel-efficient.  Consumers are looking to save money on car prices, an auto warranty, and gas prices.  Large vehicles that guzzle gas are a thing of the past.