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Released: June 24, 2011
Used gas sipers, keeping that new-car value
Source: Nick Bunkley, NY Times (Free Registration)
Cars are not supposed to be a good investment. But Spencer Hunter, an Oregon patent lawyer, recently turned a small profit selling his 13-month-old Toyota Prius. “I drove a brand-new car for free for a year,” said Mr. Hunter, who now rides a motorcycle. The rule of thumb says that a car loses at least 10 percent of its value the moment it leaves the dealership. But soaring used-car values are turning that formula on its head for many fuel-efficient vehicles, which are suddenly in high demand as Americans fret about escalating gas prices and do not want to pay for a new car.Read Full Article: Used gas sipers, keeping that new-car value
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