Last fall's zero percent new-car financing created a delayed side effect: a buyer's market for used cars. This came about because the financing incentive caused many new-car buyers to trade in their old vehicles a bit earlier than they had planned.

So right now, more previously owned cars than usual are up for sale, making this a good time for used-car buyers to drive a hard bargain, according to the Wall Street Journal.

"If you had to buy a used car, now would be a good time," said Paul Taylor, chief economist at the National Automobile Dealers Association (NADA). "There are good values."

Other factors also are putting used-car buyers in the driver's seat, according to the Journal. Used-car prices have grown more competitive as more leased vehicles came up for sale because consumers turned down the option to purchase, according to Taylor. And the slowdown in the travel industry late last year also forced rental operators to place late-model used cars on the market, further depressing prices, Taylor added.

The result has been an average 19 percent decrease in model-year 1999 and 2000 used-vehicle prices during the past year, according to NADA's Official Used Car Guide for January, based on popular cars and trucks.