Used car prices are headed downward, says the National Automobile Dealers Association (NADA) Used Car Guide, which analyzes industry data to forecast future prices. Used car prices are projected to drop 3 percent in July. They have been on a downward trend recently with prices dropping 1.6 percent this month compared with May.

The NADA forecast projects that prices for used compact cars and used mid-size cars will drop between 3.5 and 4.5 percent next month. Even with the drop in prices this summer, used car prices are still at an all-time high and overall used car prices will still rise 0.7 percent from June through December 2012.

The top scoring used compact cars at Total Car Score are the Honda Civic, including the Honda Civic Hybrid, the Mazda 3 and the Volkswagen Golf. The top scoring used mid-sized cars at Total Car Score are the Ford Fusion, including the Ford Fusion Hybrid, the Honda Accord (shown above) and the Mercury Milan.