Used car prices are falling at a nearly unprecedented rate in the country right now. There is a tremendous glut of used cars and trucks on the market right now which means it is a great time to pick up a new used ride. The downside is that your car is losing value fast right now as well.

The combination of low gas prices is driving people to buy bigger vehicles again and that is pushing plenty of fresh inventory onto used car lots.

So if you’ve been thinking about getting a new ride, now would be the perfect time to make a move. If you don’t however, Ford Motor Company and others in the industry are also predicting that the erosion of used car prices could persist for the next few years.

Happy trails my friends.