Used-price drops slowed as last year closed out, and February is off to a mild start when it comes to depreciation.

Signs of tax season are also starting to rear their head. According to the latest Guidelines report from NADA Used Car Guide, used-vehicle prices are expected to rise by 1 percent to 1.5 percent this month.

This movement comes after NADA UCG reported a 0.5-percent price increase from December rates during the first month of 2015.

“A growing wave of consumers receiving tax refunds has traditionally sparked demand for used vehicles over the first quarter of the year,” Jonathan Banks, executive automotive analyst at NADA Used Car Guide, said in the report.

March is expected to continue the trend with predicted price spikes of 0.5 percent to 1 percent.

But after the tax season surge, used prices are expected to fall at a rapid rate, due in part to the expected influx of off-lease vehicle supply flooding the market.

“If movement plays out as we expect, prices would finish the quarter on par with last year’s Q1 level,” Banks said.

Gas prices, which remain at record low rates, are expected to play a part in ramping up truck prices during February and March. And consequently, the industry can expect to see more “muted” car-price growth over the period.

According to the report, luxury vehicle prices are expected to continue to slide during the remainder of February and into March.

Trends expected for this month and beyond echo similar movement in January.

With gas prices dropping, large pickup prices were 7.9 percent high this past January than during the same period of 2014.

The midsize utility and midsize van prices also saw strong price retention, with prices rising by 4.4 percent and 3 percent year-over-year, respectively.

Luxury large car, luxury midsize car and subcompact car prices were on average 2.5 percent lower relative to last year, NADA UCG reported.