Newsweek has a good article on this topic here and our own research confirms this.

Economy is tight; Uncertainty and job insecurity are the themes of our current time. More and more people are hanging on to their cars for longer. Also, those who need to buy cars are hitting the net to find a reliable used car instead of heading to dealer for a new ride.

Between both this factors, the supply of reliable used cars going down and the demand for them going up – the prices for used cars, especially those with reputation for higher quality – Toyotas, Hondas and like are surging.

With the new stimulus package and the tax credits on purchase of new cars, that have been passed in recently – its unsure how long this will continue; But for now its a good time for those who want to sell good used cars.