Despite the fact we keep hearing that the economic recovery is ontrack but just a little slower than expected and that the economic stimulus money is just now kicking in even the rich are watching their money. Used Car News just reported that The Kelley Blue Book which is the New and Used Car Dealer's Bible of car prices states that last month their was a steep decline in the price of luxury vehicles. In August, values of used luxury vehicles declined by 1.7 to 2.5 per cent slightly more than the industry average. Compared to this time last year prices are 7-10% lower on average.
Consumers considering a 2009 model year luxury car can find vehicles selling 57 per cent of orginal MSRP, which is far below the industry average. Taking in consideration that gas prices often times effect luxury car prices but the big item is the unstable economy. Keep that Honda and Toyota it will probably be worth more than the cadillac, lexus, or bmw.
