Used car market tells tale of economy

INDIANAPOLIS (WISH) - New car sales may be struggling, but used car sales have been heading up the past few months. Just ask the people at J.D. Byrider. The company sells used cars, and helps people work through bad credit. That is a win-win in this economy.

"We've built the history at J.D. Byrider for the last 20 years on providing a product that is dependable cars at affordable prices. So we've actually seen an uptick in people coming to our dealerships to get the ownership of a car that they really need," said Bill Ackerman with J.D. Byrider.

In recent months, Ackerman said applications at the dealership have been up some 20 percent.

Nationally, used car sales were up in February and March of this year over the same months last year. Butler University economics professor William Rieber said it's part of a larger trend.

"So many people are finding lower cost alternatives. High value, but lower cost," said Rieber.

J.D. Byrider said it's been able to keep its prices steady. But nationally, used car prices have been creeping up the past several months. Also, analysts say the economy would benefit more from new car sales than used.

"We have to do what's best for ourselves and our families. But certainly, buying new cars represents new production," said Rieber. "And that means more employment for the automobile workers and the like."