Prices of Used Cars Soar as Fewer Consumers Buy New Vehicles ...

Comstock/Thinkstock(LOS ANGELES) -- One of the main investments so as to the standard American construct is turning out to be a bullion mine.

According to Kelley Blue Book, late-model second-hand cars are soaring in worth since of feeble new vehicle sales, construct in twist is creation slightly older automobiles a additional scarce, and so,consequently additional hot, commodity.

Kelley, the bullion normal in auto pricing information, inappropriately so as to the standard one- to three-year-old vehicle is advertising for approximately $23,000.  Compare so as to to 2008, preceding to the base terrified out on the U.S. economy, at what time second-hand cars now averaging approximately $15,000.

That's a 16 proportion add to annually.  Practically no additional present investment boasts genuine a huge return.

Alec Gutierrez, boss of vehicle valuation for Kelley Blue Book, adds, "Consumers who diagram to sell or deal in a second-hand car almost immediately determination probable see completely vehicle grasp its worth well.  Alternatively, shoppers in the marketplace for a second-hand car determination carry on to pay more, creation it hard to buy at a discount."

Copyright 2011 ABC News Radio