Used-Vehicle Prices Jump 4 percent in February as Tax Refunds Fuel Increased Demand

Used cars are offered for sale at a dealership in Chicago, Ill, in this file photo. Scott Olson/Getty ImagesAn increase in federal tax refund amounts has led to increased traffic at automobile dealerships and an indication that it could be a strong selling season this spring, automotive industry insights provider Cox Automotive reported.Atlanta, Georgia-based Cox Automotive released its Manheim Used Vehicle Index on March 6, which follows the cost of used vehicles sold at wholesale auctions. According to Cox Automotive, wholesale prices for used automobiles rose by 4 percent in February versus year-ago data, and it was up by 0.8 percent from January.