Rochester, N.Y.--Used cars have been scarce for months, but the competition is especially high as we creep toward spring.
"It is costing everybody more now, it's a function of the spring selling season," said Michael Guerrein of Auction Direct in Victor.
The shrinking inventory has been exacerbated by a poor economy resulting in drivers holding onto cars longer as well as the Cash for Clunkers program that took nearly one million cars off the street. Experts say gas prices are also playing a role.
"People with tight household budgets are going to say, I think I'm going to hold onto my current car and get some repair services done because I don't have the funds to do that," said George Cook, Executive Professor of Marketing at the Simon Business School.
The National Automobile Dealers Association says car prices will have risen 1.8 percent by year's end, with the highest points coming in April and May.
