Have You Noticed Used Car Prices Coming Down?

One of the tenants of many personal finance bloggers is to always buy cars used.  Since a car typically loses the biggest chunk of its value the first year (or really, the first day) after being driven off the lot, the advice is to let someone else take that financial hit.

With the average age of the current car on the road being almost eleven years (really?) people have definitely been taking this to heart.

I’ve noticed it over the past few years.  Our two cars, a 2006 Pontiac G6 and a 2007 Buick Rainier, have held value very well.  I track their estimated value through Kelley Blue Book, and in some months, the values actually increased.  Lately, though, the value of both cars has been dropping month over month.

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