Used car prices rising - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

Used car prices rising

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KENNEWICK, Wash. -- Used car dealerships like Leskovar Suzuki sells both used and new cars, but a big part of their business comes from used cars.

According to the owner, the reason is most customers can only afford a used car. But when those customers come to buy, they'll find the price is higher than ever before. The owner says the reason behind that is new car sales dropped in 2008 and haven't recovered. People are holding on to their cars longer which makes the value on the used car they have increase.

"Our business is good. Gas prices are making people less interested in low gas mileage vehicles and more interested in high gas mileage vehicles, so those values are shifting. Small cars are going up in value, big, big cars are going down in values," explains owner Jeff Leskovar.

He adds that while business is good, he fears what's in the future. That's because of budget deficits at the state and federal levels and possible layoffs at Hanford. 

Other used car dealers expressed the same concern for future business, but add gas prices have helped their business because people are still looking for something cheaper than a new car with more gas mileage.