Valley used car sales rising

FRESNO, Calif.

As a result the prices of compact, fuel efficient cars have gone up considerably in just the last month.

Those prices will keep going up, auto experts say, because we haven't yet felt the full impact of the slowdown in Japan.

Used car dealers here in the Valley say with the high demand for compact and economy cars this time of year, they're paying more to get those cars on these lots, so buyers are paying more to take them home.

Fewer and fewer of these small fuel efficient cars will be on used car lots in the coming months.

"Economy cars always sell well," Lance Rice said.

The general manager at the Own A Car in North Fresno said while these cars sell well, dealers can't find enough of them to keep a high inventory and when they do find economy and compact cars to sell they're high priced.

"As we pay more, we just mark up the cars."

Many dealers are advertising their trade in specials for used cars offering more money for them.

According to the National Automobile Dealers Association, the price of compact and midsized cars has risen anywhere from 8.5 to 11 percent in just the last month.

Henry Nishimoto, a licensed car dealer and economics professor says this is good news for the industry but not so much for the buyer.

"Is that bad news for buyers? In a sense, they're going to have to be a lot more careful about how they spend their dollars, do more price comparison shopping," Henry Nishimoto said.

That's what David Aguilera did, he just bought this full sized pick up, but he said he made sure to opt for the smaller engine since gas prices are so high.

And like most others buyers in the used car market he was looking for a car made within the last few years. "Within a five year age, that's what I was looking for. I don't want something too old."

If you're looking to sell a compact of midsized car now may be the time because dealers say they're willing to pay top trade in so they can have more of those to sell.

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