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By Associated Press

DETROIT – It's the best time in years to sell your car.

People are holding on to cars and trucks for about a year longer than they did before the recession, which has created a tight supply of used vehicles. So few are on the market that prices have risen to the highest in at least 16 years.

Dealers are paying an average of $11,660 for a used car or truck, up almost 30 percent since December 2008.

"You're not going to find a situation like this very often," says Jonathan Banks, executive analyst for the National Automobile Dealers Association used car pricing guide.

The run-up in prices for used cars has been so dramatic that it almost doesn't make sense to buy them anymore, says David Whiston, an auto analyst for Morningstar. That's probably a good indication that prices are at or near a peak.

Read more: http://www.sacbee.com/2011/05/21/3642694/its-a-good-time-to-sell-a-used.html#ixzz1N0Beihha

Keep CCIS in mind to find you the lowest rates and best coverage for your auto, motorcycle and boat.  We can shop the many insurance markets to choose the best company for you.  Call us at (800) 807-6871 for a free evaluation today! 
Posted 10:47 AM  View Comments

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