Trade-in Values for Used Cars Continue to Increase

Whether you own a house, a store, or you offer a service, it is undeniable that we are living in a seller’s market. People are willing to spend more for what they want, and if you are someone with something to sell, such as a house, a property, or a product, listen closely because this just might be the article you want to read carefully and all the way through.

If you read the article’s title then you already know what we are getting into today. Cars. Well, used cars, to be precise. There are a plethora of used cars out there across America and across the world, becoming more and more apparent as the production of new vehicles experiences a shortage.

If there are lots and lots of used cars, wouldn’t that mean the value for used cars would be going down? No. In fact, the value of used cars is increasing on a daily basis, and much like the housing market, the market for used cars is expanding, alluring, and, most importantly, lucrative. So, take a peek out your window. See your tried and trusted used car in the driveway. Are you seeing the dollar signs yet?

Trade Ins

Now, you could try your hand at selling your vehicle to an individual, but doing so is easier said than done. It’s a seller’s market and it just so happens the market is buying. Who is the market? Dealers, of course!

Dealers across America are experiencing this shortage and they are looking for used cars to stock their lots. And, if you are afraid that a dealer is going to short you somehow, you should be glad to know that many are willing to pay more than what you are asking for. In fact, a survey from cars.com has reported that a third of dealers are paying 20% more than in the previous two years. However, these were for cars and trucks made after 2018 and were in good condition.

There are lots of used cars for sale, but some brands and models sell exceptionally well, and their trade-in value can not be overlooked.

Best Cars to Trade In

Of course, dealers are looking for models that sell well, so here are some they are urgently looking for. Meaning, that they are going to be willing to pay a very good amount for it. Here are five cars dealers will not be able to pass up:

The Toyota Rav4 and Tesla Model 3 are seeing an increase in values, some seeing a 12% increase from March to April.

The Tesla Model Y is another car that dealers are drooling over. Do you have one? Maybe it’s time to cash in for some…cash. This car’s trade-in value has increased by 9% in recent months.

The Kia Optima is up by 12% and the Toyota Corolla is up by 9%. So, as you can see, there are multiple options.

And these are not the only options out there. If you are interested in selling your used car, talk to a dealer near you and ask them what they would pay. You may wait to see if the demand for used cars increases, or you can sell your car now, and take advantage of this lucrative market.

This post may contain affiliate links. Meaning a commission is given should you decide to make a purchase through these links, at no cost to you. All products shown are researched and tested to give an accurate review for you.

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