SAN ANTONIO - The price of a used car is the highest it has been in more than a decade. Car dealers attribute the slow recovering economy, high gas prices, and the recent Japanese tsunami and earthquakes for driving up the cost of pre-owned vehicles.
"Because of what happened just recently, what happened in Japan, the availability of some new cars, allocations have been cut back, therefore; creating a burden on the pre-owned side to be able to produce more," said Mark Castello, pre-owned sales manager for North Park Subaru.
Castello adds that dealerships are paying more to acquire such cars and the higher cost is being passed on to consumers.
"Some people have told us that it's almost cheaper to buy a new car, that people are looking for better mileage or lower cost cars and so they're snapping up the used cars as they come in," said Kathy Clark, who is in the market for a used car for her college bound daughter.
Kathy says despite what she has heard, she is pleased with the selection of cars and the pricing.