Used car prices may have reached their peak

Used car prices may have reached their peakThough used car sales have been climbing along with their price, there are reasons to believe that consumers with bad credit history in the market for a pre-owned vehicle may still be able to get a deal.

The new cars on display at the Detroit Auto Show may re-invigorate consumer demand for new vehicles, which are expected to see solid sales increases in 2011, according to the Detroit News. As the economy improves, many consumers will allow themselves the luxury of buying new again, and prices for used cars may start to drop after hitting a peak.

Furthermore, the reported increases in used car prices also include luxury, high-end vehicles that have undergone thorough repairs and check-ups at dealerships, according to the news source. Bad credit cars have remained fairly affordable, and may become more inexpensive if the demand for new cars rises this year.

The kind of safety technology that used to be found in only luxury models is becoming more common on regular vehicles, too, such as traction and stability control. These new developments in the auto market may mean that consumers with limited budgets can afford a safe, reliable vehicle with the help of an online car loan.