Trade-in Values May Reach Record Breaking Highs

In a recent article from autonews.com it has been predicted that trade-in values may reach a record breaking high over the next four or five months.  This spike in value is associated with a “shortage in the used-vehicle industry, rising gasoline prices, and a higher demand for fuel-efficient vehicles.”  This change in the industry will mean a lot for people in the market right now to buy a new car.  The trade-in values are expected to peak through the end of May but will start to decrease again beginning June so now is the time if you are in the market for a new car.  There is one caveat to this though.  Dealerships are not going to pay top dollar for a used car that has been driven hard.  According to autonews.com dealers are specifically looking for “clean, late-model used vehicles under six years old with reasonable mileage.”

With this increase in trade-in values, consumers hope to find an increase in incentives for purchasing a new car.  As gas prices rise, it has become more difficult to maintain the fuel budget for most households.  While purchasing a new, more fuel-efficient vehicle may cost more money up front, it will definitely pay off in the long run.  This also means that dealerships will hopefully become fully stocked on pre-owned vehicles.  So if you are in the market for a used car your options will be plentiful when you begin shopping around.  Either way, it is a win-win situation for buyers.  This can hopefully provide some peace-of-mind for consumers who have been feeling out of options in the current market.  To discuss your trade-in options and to see what your car is worth visit your local St. Louis MO Toyota dealer today.