If you’re looking to sell your used car or truck, now couldn’t be a better time. According to Bloomberg News, used car prices continued to rise last month. That makes June the sixth month in a row where wholesale car prices have climbed. The figures are up 5.8 percent from June, 2008 and 16.4 percent since January, 2009. Unfortunately, the reason for the increase in used car value has less to do with buyer demand and more to do with the number of cars available.

It’s no secret used car sales are absolutely dismal, and as such, there are fewer trade-ins available. What’s more, rental companies aren’t replacing their fleet vehicles with the same frequency as before. The result is fewer available vehicles than the market is accustomed to. What’s more, lower gas prices have spurred an interest in big, thirsty vehicles like SUVs and pick-up trucks – causing their value to climb as well.

While supply may be the main factor, the Bloomberg article says that while a rise in wholesale used vehicle prices is usually a precursor to higher demand for new vehicles, this time that may not be true. With credit still frigid in most parts of the country, few analysts predict the masses will come running to new car dealers anytime soon.

Tags: Pick Up, Prices, SUV, Used Car, Used Car Prices