Your dealership wants your car back
Consumer demand is strong for used cars, but supplies are limited. As a result, auto dealers badly need trade-ins and are willing to pay top dollar.
MSN Money
7/14/2011
The dealership is paying top dollar for trade-ins, you’re told, and now is the perfect time for you to sell your vehicle. In sum, your new-car dealer really wants your used car.
There are about 260 million cars on America’s roads. Why is your 3-, 4- or 5-year-old machine so special? It’s because, for the car business, these are unusual times.
“Strong consumer demand for small used cars is driving prices up,” Jonathan Banks, a senior analyst with the National Automobile Dealers Association Used Car Guide, said in a news release. “The NADA Guide increase in trade-in values for June should come as no surprise because it reflects a shortage of both new and used cars entering the market.”
In May, NADA projected trade-in values for small cars to rise 18% during the first half of 2011, compared with the first half of 2010. The differences in value can be startling. Even in one month, values for used small cars have skyrocketed.
“A lot of lessees and buyers will find they’re on the right side of their leases or loans,” Banks told MSN Money. “If they trade in their cars, they’ll find they have some money for a down payment.”
Read more at MSN Money http://money.msn.com/car-buying/your-dealership-wants-your-car-back.aspx
