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Used-vehicle prices for cars and light-trucks up to 8-years-old were buoyed by Hurricane Sandy, resulting in stronger than expected prices in November.
Prior to Sandy, NADA Used Car Guide expected used-vehicle prices to drop by 2.1 percent in November. But the impact of the storm and the continuing tight supply of late-model vehicles plus strong demand slowed depreciation to 1 percent.
November's prices were within NADA's post-storm estimate-an improvement of 0.5 to 1.5 percent or $155 higher on average than projected prior to the hurricane. NADA predicts that the boost in used-vehicle demand caused by Sandy will also result in stronger prices in December.