Is There Gold In Your Driveway? Used Cars Are A Hot Item!
Scotty Reiss
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If you have a used car sitting in your driveway that isn’t driven very often, or if you’re thinking of buying a new car, listen up: Now might be the best time ever to sell your used car. There’s a shortage of used cars, the Wall St. Journal is reporting; it’s basically the back end of the new car sales slowdown of 2008 and 2009, and the resulting cut in car production during the recession. So car dealers–not wanting to turn away customers looking for a used car, and who will pay higher finance rates than those for new cars– are scouring the markets and paying top dollar for quality used cars. You can see the story here.
And, with the increase in prices for used cars, that means you can often buy a new car for a similar montly payment as a preowned car–another sweet bonus.
If you’re selling or trading in a used car, be sure to size up the car on Kelley Blue Book or Edmunds, then assess the market for your car at AutoTrader or Facebook’s Marketplace, and check competing listings on Craigslist or in the local papers. Be sure to know the full value of your car before you start negotiations, and get all it’s worth.
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