New car sales punching it into high gear
Posted: 05.03.2012 at 9:48 PM
Updated: 05.04.2012 at 6:20 AM
 / FOX21: Sade Malloy
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COLORADO SPRINGS, COLO. --

Buying a used car no longer means you're getting the biggest bang for your buck. The slow down in the economy cut the second-hand market in half, so while the used market is selling at a premium, new cars are priced to move.

Plus, high gas prices are no longer the game-changer they used to be.

"Many people can buy a new car that has 40 miles per gallon, and based on the way they drive, it will pay for itself instead of driving an old car," Mike Cimino, Vice President of Phil Long dealerships, said.

Phil Long has seen a boost in business. Year-over-year new car sales have gone up 28 percent, even though the incentives aren't as good as they were two years ago.

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"We recently bought a fifth wheel, and you can't pull that with a small car," Brad Shirley, who just bought a new truck, said.

According to auto specialists, the national car market is expected to sell 14.5 million vehicles in 2012, five million more than two years ago.

"Technology is all together different from four years ago, completely changed whether be in performance or creature comforts, gas mileage is bigger then ever been," Cimino said.

If you've been thinking about trading in your car now is the time to do it.

The smaller than usual used car market means your trade-in will be worth more than two years ago.