Now is the time to buy a used car?

Cash for Clunkers sent used car prices soaring (the whole supply and demand thing). But that is finally settling down, with the Mannheim used car index falling down from its highs to 124 level (1995 = 100). This means that used car prices overall have gone up at half the pace of prices since 1995 as measured by the CPI. There are some real deals out there right now.