Thinking of trading in the clunker in your garage for something that gets better gas mileage? Are you in the market for a smaller car? Wait a little longer. You may want to wait until this fall to take the purchasing plunge.

Small car prices, which have set record highs this year, are expected to come down this fall.

Why the price shift? Lower gas prices will make people comfortable driving something bigger. Honda and Toyota, which were hurt by the Japan earthquake, will crank up production of small cars. And Japan and Detroit will offer big discounts on smaller models as their lots fill up.

The average new compact car, which cost a record $20,500 in June, should fall to about $19,300 by the end of the year. The average used compact car should fall from a record $11,300 to about $9,600 over the same time, according figures compiled by the Kelley Blue Book auto pricing service.

Here's what some people are saying about this story online:

"Really? To save a WHOPPING $1200??? *in my sarcastic voice* Yyyyyyyeah, I'm sure that will make up for the rising gas prices...... Pshhhh, i'll stick with my '04 GTO, thank you."

"I have two car's paid for why would I buy a new one? loose 2K to start with higher auto insurance.Get noting for trade in. Save your money take a vacation. In 1974 I trade it I lost.Don't give in."

"Most 2011 small cars get 30-35 mpg. If you wait another year or two most small cars will be getting 40-45 mpg. Buying now makes little sense."

Are you in the market for a new car? Will you wait until the fall for prices to drop? Are you looking at a small car or an SUV? Why? Leave your thoughts below.

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Information from the Associated Press was used in this article.