Superstorm Sandy causing price jump in used cars - Toledo News Now, Breaking News, Weather, Sports, Toledo

Superstorm Sandy causing price jump in used cars

Posted: Updated:

(Toledo News Now) - The effects of Hurricane Sandy are going to be seen in the used car market.

The storm ruined an estimated 250,000 used cars which resulted in inventory shortages across the country pushing up the price.

"It's probably going to get worse before it gets better," said Randy Shirk of Northpoint Auto Sales.

The National Automotive Dealers Association said a clean late model used car will now cost anywhere from $50-$175 more.

"Prices have been high and going to stay high however. They may make this as an excuse to go even higher," said Shirk.

Shirk hopes the price increase will not decrease business.

"People are getting back in. They feel good and they've been doing without for a couple of years so they're anxious to get back into a car and doing everything they can to get one," said Shirk.

Copyright 2012 Toledo News Now. All rights reserved.