If you’ve been paying attention, you may have noticed a subtle shift in all the car dealer ads on radio, TV, and the internet lately. For decades car dealers have all screamed about having the lowest prices on cars, but these days car ads are mostly telling you to hurry in for top dollar on your trade, we’ll buy your car whether you buy one of ours or not, and that nobody pays more for used cars than Big Bob’s Ford Store, NOBODY!
What’s up with that?
Used car prices have actually increased by 20% over the last year according to the U.S Bureau of Labor Statistics.
“We’re paying more than we’ve ever paid before for trades,” says Mike Columbus from West Hills Honda near Seattle in his recent article.
Used car demand is surging at the same time the global chip shortage is disrupting the new car supply chain, and many dealers are looking out at empty lots forcing them to buy cars from the general public just so they have something to sell.
“Right now there is just a very high demand for preowned vehicles because the selection is tight, inventory is tight,” says Benjamin Dykstra from Vehicle Hero. “If you can sell without buying now is a great time.”
Prices are truly unbelievable, and that used car in your garage, may be the next best thing to a winning lottery ticket, but that’s not the only reason that now is a great time to sell a car yourself.
New technologies allow companies like Vehicle Hero to make it easier than ever to sell your car yourself, and offer some pricing competition for your car. These days you don’t have to settle for whatever the corner car lot offers you for your car.
Whether you decide to sell your car to a local dealership, stick a sign in the window and see who bites, or use Vehicle Hero to make selling your car as simple and easy as ordering a pizza, you should think about doing it sooner, rather than later.
There’s no reason to continue owning or making payments on a car you don’t love. The less you love it and the less you need it, the less you’re going to drive it, and cars that don’t get driven go downhill fast.
“Cars that aren’t being used are going to degrade quickly so you might as well get some value out of it,” says Dykstra. “When they’re not used they fall into disrepair.”
That car that was running fine 6 months ago when you parked it will often have a dead battery, a flat tire, rusty brakes, and a funny smell when you try to start it again. That can cost you thousands.
“Don’t sit on it. Get rid of it,” says Dykstra
If you’d like a free, no-obligation cash offer that will allow you to sell your vehicle at the highest price without wasting any unnecessary time, without meeting strangers in strange parking lots, and without letting your vehicle lose any more value while you try to decide, enter your VIN here.