Anybody looking to get behind the wheel of a used car this summer may want to hold off on the purchase for a few months. Industry experts are predicting this fall will be a great time to buy a used car in New Jersey or elsewhere as the spike in prices that occurred earlier this year will start to reverse course.

Used car prices are already on the way down. Analysts from the National Automobile Dealers Association say the cost of small and midsize used cars may drop by as much as 5 percent during June, with another 2 to 3 percent drop expected for July, according to CBS MoneyWatch. By the time August and September roll around, consumers may be able to pick up a pretty good deal on a pre-owned vehicle.

There are a few reasons why used car prices are starting to decline after a spike earlier this year. Perhaps most significantly, gas prices are on the way down, so the demand for fuel-efficient used vehicles has begun to wind down. Additionally, because people were holding on to their cars longer the stock of used cars was low. Now that new car sales are on the rise, more people are turning their old models in.

According to MoneyWatch, there are certain cars that may be especially affordable in the coming months. The cost of a used 2009 Toyota Prius had risen sharply due to increased demand, but analysts expect it to drop considerably by fall, providing an excellent fuel-efficient option.

If you can't wait until the fall and still want to find a used car that won't break the bank, New Jersey State Auto Auction is the place to go. With a wide variety of makes and models, all at affordable prices, you'll be sure to leave the lot happy.