Prices of used cars dropping

By Web Producer
By NBC News

Prices of used cars dropping

June 18, 2012 Updated Jun 18, 2012 at 11:25 AM CDT

CARMEL, IN -- If you've been thinking of purchasing a new car, now may be the time. After months of high prices, used car prices are dropping.

According to Adesa Analytical Services, wholesale dealers are spending 1.8 percent less than they did a year ago when purchasing their stock.

An abundance of late model trade-ins helped loosen used car prices.

More consumers started buying new cars when they realized the price of a new vehicle cost only a little more than buying a used-late model.

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