Trade-in value of late-model used cars to hit all time high soon
Posted on Friday, April 27, 2012 at 8:01:37 PM
According to the National Automobile Dealers Association, experts at the European Auto Expo predict that trade-in values for late-model used cars will peak in the coming weeks – especially for those with good miles per gallon ratings.
This may make it a good time to trade in the vehicle you purchased a few years ago with the intent to wait for market prices to come down. These late-model used cars will likely still be covered by factory warranties, which will make the purchase an excellent opportunity, according to the source.
Using auto financing to purchase a used car can reduce your overall loan payments while allowing you to still have a majority of the bells and whistles of a newer vehicle. Research the local auto market and get a feel for the car that is right for you, so when the bubble bursts and prices fall, you may find yourself getting a good deal.
Smart shopping choices can help you get more bang for your buck in the competitive auto industry.