Used car prices down by more then 30%

Used car prices in many indian major cities has gone down by more then 30% in recent days .The main contributers in this steep fall in used car price are the people who lost their jobs and people who are in no position to repay the loans due to credit crunch.
Peoples selling cars to cut their petrol expenses and earn some money to survive in this gloomy recession time. Major cities like Banglore and Hyderabad are fluding with used cars. According to estimates there are more then 1000 unsold cars in Banglore alone.
So if you are planning to purchage used car in near future then this is the right time for you. Not only small cars like Maruti but also luxury cars like BMW 3 Series and Honda City are available in these cars