Figuring out which kinds of used cars in New York and other states to buy could come down to one factor, according to a new Kelly Blue Book survey: the price of gas.
Nearly 9 out of every 10 shoppers who responded said they thought that the price of gas would continue to increase, a belief that is causing them to consider more fuel efficient cars.
“As summer approaches with household budgets still pinched by the weak economy, car buyers are once again becoming very conscious of rising gas prices,” said Jack Nerad, Kelley Blue Book executive editorial director and executive market analyst. “Current economic conditions compounded by the pain at the pump may make $3-per-gallon gas a new threshold for car buyers” in terms of what mileage they prefer in their purchase.
That attitude change was reported by about 60 percent of potential buyers who say they are now considering cars with smaller engines, or even smaller vehicles because of the rising cost of gas.