Cars, Used Cars | featured news

An estimated 250,000 vehicles were flooded, compounding an already-tight used-car market.

It's the best time in years to sell your car. People are holding on to cars and trucks for about a year longer than they did before the recession, which has created a tight supply of used vehicles. So few are on the market that prices have risen to their highest in at least 16 years.

CarMax posted only a 2.7% drop in profit despite sharply lower sales and losses at its auto-finance unit, as the used-car dealer's profit per vehicle sold rose.