Used-car prices have risen sharply, but you can still find bargains among newer used cars three years old or less.
Edmunds.com says used-car prices overall rose 7.6 percent in the quarter ending in June as more newer, pricier cars came on the market. That resulted principally from three-year-old cars being returned at the end of leases. Paradoxically, this influx pushed up overall prices but depressed prices in that newer class because of the extra supply.
“Because there’s a growing inventory of newer used cars, the prices on those cars are more consumer-friendly,” said Jessica Caldwell, director of industry analysis for Edmunds. “Three-year-old cars are selling for less than they did just one year ago.”
CBS MoneyWatch asked Edmunds to find some bargains among 2012 models on sale now. Their analysts picked five whose price trends make them appear good values. For the sedans, that means selling for less than their three-year old counterparts a year ago. Among large SUVs and pickups, where all 2012 used models are up in price, the analysts cited models that gained less than their competitors compared with a year earlier.
Click below for a look at these five bargains.