Used Car Values Still Soaring - Is Your Next Car Going To Be New Or Used?

Normally, the value of a new car plunges as it's driven out of the dealership by its new owner.

But slumping auto sales and leases in recent years have changed that axiom by creating a shortage of late model year used cars, according to auto price information company Kelley Blue Book.

The average value of a 1- to 3-year-old used vehicle has increased from $15,000 in 2008 to more than $23,000 in 2011, an annual average increase of nearly 16%, Kelley analysts said.


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