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Car Dealers Say "Cash for Clunkers" Eliminated A Lot Of Used Cars

10:27 PM, Nov 4, 2011   |    comments
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JACKSONVILLE, Fla. -- You have something car dealers want, and it could help you get a brand new car for next to nothing.  Car dealers are willing to pay top dollar for what you consider a clunker.

Part of the reason used cars are hot now is because of the aftermath of the government's Cash for Clunkers program, Arlington Toyota Used Car Director Steve Martin said.

"It sucked out so many inexpensive cars, the demand for used cars has gone up," Martin said.

Sales Manager Jesse Herrera at Duval Mazda agreed. "It drove the prices on the less expensive cars up."

If you ask UNF Professor of Political Economy Mary Borg it comes down to simple math.  "It's just a simple matter of supply and demand.  When the economy is doing poor as it is now, people are afraid to take on those high payments of a new car. So therefore they are looking in the value for used cars."

"With the limited amount of used cars out there, everyone is trying to get their hands on them," Martin said.

You may not have thought about contacting your dealer, but your dealer is thinking about contacting you.  Many dealerships are sending out letters and making calls to customers, looking for your used car.

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