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Used car prices are climbing and the pool of available models is drying up one year after the federal "cash for clunkers" program spurred consumers to scrap old cars for new ones.

Used cars are selling for the highest average price in at least seven years, according to Edmunds.com, an online auto consumer guide. Last month, the average price of a three-year-old vehicle spiked 10.3 percent, to $19,248, compared to July 2009.

It's a question of supply and demand.




 
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Cash For Clunkers Program Forces Used Car Prices To Highest Levels In 7 Years

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