While news on the economic situation continues to be bleak, new figures show that people in the market for a used car will get a lot more for their money.

According to the National Automotive Dealers Association (NADA), prices on used cars fell in every market during 2008, and prices this year are likely to follow economic circumstances said Terrence W. Wynne, director of editorial services for NADA Used Car Guide

“The past year was characterized by extreme volatility in used-vehicle prices and economic uncertainty,” Wynne said. “The degree and direction of price movements will be influenced by how the economy and this industry perform.”

It is also expected that gas prices will heavily influence the prices of used vehicles, especially truck and SUVs.

It appears that while cars have seen their prices drop significantly in the past few months, larger vehicles have actually increased in price.

In an example of the fluctuation, Automotive News says a 2007 Toyota Corolla LE which was selling for $12,700 in October is now going for $10,000 while a 2007 Chevy Suburban LS that was $21,725 three months ago is now slightly higher at $22,200.

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