← 5 Ways the Earthquake in Japan Could Affect Car Sales & You

Used-Car-Lot-620×480

By Anslem Samuel | Published April 20, 2011 | Full size is 620 × 424 pixels

Used vehicle prices could rise, too. With gas prices rapidly approaching the $4 and possibly $5 mark per gallon, consumers could be at a loss this summer when seeking out a fuel-efficient new vehicle. This will likely drive many consumers to the used car market seeking late model vehicles, which will cause prices in the used car market to continue rising. Vehicles like a used Prius, Toyota’s popular hybrid, could become a hot commodity, selling for more than what they did when they were brand new. Yes, this is like déjà vu all over again. We experienced this same issue with a number of fuel-efficient used vehicles two years ago—when gas prices skyrocketed. However, this time we have other factors to thank for the potential affect on summer car sales.

Used vehicle prices could rise, too. With gas prices rapidly approaching the $4…

(Image: ThinkStock)