Why has Kelly Blue Book increased the value of used cars within the past year. I bought 2 cars last year and I?

just checked their value on KBB and it has went up by almost $1,000 dollars. I thought car values was supposed to depreciate over time. Is there something I dont know. I am trying to buy a car from Craigslist and they all seem overpriced to me. A little help?|||The market has shifted back up in the past 4 months after declining slightly since last April. It is a representation of the past 3 years. Declining new car sales and leases from 2008 to 2010 have resulted in fewer used cars on the market. Fewer leases in 08-09 means fewer lease returns in 10-11. The used car market depends heavily on lease returns and rentals. Less cars in the market means higher prices on the available units.|||Are you sure you are comparing apples to apples ? That is, are you sure you weren't using private party value before and retail now or wholesale before and private party now ?





Its also possible that with the weak economy, demand has increased for some used cars. Plus, that tends to happen seasonally too around income tax time.


Not usually $1000 though.|||Car values are going way up. Enterprise has totally run out of cars. New Car sales went from 17 million new cars to 10 million new cars. For a couple years the did nearly NO leasing. The supply of used cars has shrunk rapidly lately. I have watched Chevy Colbalt this week sell for $1300 over book, a year ago they where $1300.00 under book. This article will help and it is about 6 months old. And much worse than this article describes.



Last week went to Vegas wanting to buy 20 cars, usually they have about 4500 cars at this auction and last week they had 1200 cars. We said there are more buyers there than cars. It's going to get much worse. And bought 1 car!!!



A local dealer bought a Ford Focus for his son a year ago for $1700.00 and sold it Wednesday for $4300.00



http://articles.moneycentral.msn.com/Sav鈥?/a>|||Another sign of how bad the economy is.|||since people can't afford new cars the price of used cars have gone up.