The fallout from the Japanese earthquake and subsequent tsunami is still unfolding, but it already appears that the quake will have major effects on the auto industry in America.

Despite many of Honda, Toyota and Nissan's Japanese factories operating at limited capacity, it's unknown when the country's shipping will be straightened out, nor whether maller parts suppliers will be able to rebuild. For the time being, many are predicting a small shortage on some popular models exclusively manufactured in Japan, such as the Toyota Prius and Honda Fit.

That means that many buyers are accelerating their purchase timelines and making offers on vehicles now, leading to a spike in prices. These cars were already in high demand thanks to the recent increase in fuel costs, but the situation in Japan is complicating matters by leading to dealer shortages and high prices on the remaining models.

Fortunately, those considering these models could be in luck – if they have a trade-in. Brian Allan, general manager at Galpin dealerships in Los Angeles, told USA Today that many dealers are looking for used cars right now since the recession cut down on the number of trade-in vehicles, which means higher prices for trades can take some of the sting out of the price increases.

Drivers who are interested in smaller, fuel-efficient vehicles will have a decision to make: act soon before prices really skyrocket or hold off until the hubbub dies down. Either way, they might want to consider shopping at New Jersey State Auto Auction for deals on any type of vehicle.