Lower Gas Prices Prompts Used Car Sales
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Posted: 8:29 PM Jan 7, 2009
Lower Gas Prices Prompts Used Car Sales
Its been known for months now that the new car market is facing tough economic times. However, with the recent drop in gas prices, more consumers are turning to trade-ins and used cars than ever before.
Reporter: Jason Berry
Email Address: jason.berry@wbko.com
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With a quick handshake, the keys are handed over and customers drive-off in their new car, or nowadays, their new used car.

"The used car market in the past couple of weeks has been picking-up slowly but surely finally, after all the high gas process have come down."

Its been known for months now that the new car market is facing tough economic times. However, with the recent drop in gas prices, more consumers are turning to trade-ins and used cars than ever before.

"We have been busy for about two weeks and that is the story I have been getting from all my friends in the auto business."

The sales staff at Bettersworth Motors in Bowling Green say despite these economic times, they have seen an increase in customers who want to trade-in their small, fuel efficient compact for a bigger vehicle.

"Gas prices going down has really helped the SUV and truck market. People having a little more money in their pocket after they fill their gas tank up to buy a car helps."

Now, with gas prices dropping, what can consumers look for when buying a used car?

"We're running into a lot of people that bought cars, say six months ago, a year ago, when the gas went crazy and they are wanting to try and trade those in and the market has changed so much. They are not worth as much as they used to be."

Nevertheless, Bettersworth says they predict the steady increase in demand will continue well into 2009, as long as the price of gasoline stays below two dollars a gallon.

Used car sales are also up, as the price of a new car depreciates rapidly after the sale.


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