Used car prices increase as gas prices soar

High gas prices are starting to impact other prices, from the cost of food to used cars.

Increased demand this year for fuel-sipping economy cars, coupled with the shortage of new Japanese cars after the earthquake, is leading to a new type of sticker shock at used car lots.

Everyone Wants Good Gas Mileage

John Morse needs a car for his teenage son, and like a lot of drivers, there’s only one type of car he’s considering right now.

Morse said “just the way gas prices are going up, I’m going to try to find something a little more economical.”

Unfortunately, as gas prices soar this spring, so is the price of economical small cars.

Car dealer Gary Heflin can’t keep Corollas, Kias, Ford Focuses, and Hyundais in stock.

Blue Book Prices Soar

But as a result of surging demand, Heflin says wholesale prices on small cars are up sharply, to the point where last month’s blue book