After rising much of last year, used car prices are finally sliding.
Manheim, a big used-car wholesaler, says not only are prices starting to fall, but they will continue to fall. Still, says Manheim economist Tom Webb, they remain high by historical standards , Automotive News reports . Reason: In this tough economy, many buyers just can't afford new cars.
The monthly index was 122.9 in September, down from 123.7 in August but above its 118.9 reading in September 2010, the News says. The index peaked at 127.8 in May. The index began in January 1995 at 100.
SUV prices, in particular, fell when gas prices peaked in the past few months.
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