Not only have the housing prices jumped up over the last year, but preowned cars are currently GOLD! The global chip shortage for new cars has created an unnatural valuation on both new and preowned vehicles. Most people have noticed the thinning lots; dealerships actually really need used cars. This is the time for sellers to take advantage of the demand and get more money for their vehicles. Eleven manufactures have seen at least a thirty percent increase in preowned values.
Experts advise to buy now, as cars are going to continue to sell quickly. If you are looking to make some extra money, this is the right time. Here’s a breakdown of the brands with the most increase: Ram (up 40.5 percent), Ford (38.7), Aston Martin (38.1), GMC (37.9), Chevrolet (37.3), Dodge (36.4), VW (35.1), Lincoln (32.9), Toyota (30.5), and Hyundai and Kia (both 30.1). The ideal car is between two and five years old. If you don’t see your brand, that’s okay. There is definitely some money to be made. If you aren’t comfortable going to the dealership to get a quote, try these options: givemethevin.com, vroom.com, carvana.com, or carmax.com.