Used cars to buy this summer
The Detroit News reported the price of gas is dropping (down 3.5% from a year ago) and that is causing the price of small cars to drop too. According to the article, the average price of gas is about $3.71 and if prices stay below $4.00, car shoppers will buy trucks, SUVs and minivans. Even though used car prices are at record highs because of inventory shortages, their prices will decline if gas prices do, in fact, remain stable.
