These 5 used cars’ trade-in values are skyrocketing

NEWYou can now listen to Fox News articles!
The stock market has been having a rough patch lately, but many Americans may have appreciating assets they’re not aware of.Not in their bank or brokerage account, but in the driveway.A new survey from found that the trade-in values for used cars and trucks from 2018-2021 remain high amid the ongoing vehicle shortage, with a third of dealers paying over 20% more than they were two years ago.”Eager for quality inventory, dealers are making lucrative offers for popular vehicles maintained in good condition with low mileage,” editor-in-chief Jenni Newman explained.
Car dealers like this Kia store in Richmond, California, are desperate for quality used vehicle inventory.
(David Paul Morris/Bloomberg via Getty Images)Two-thirds of sellers said they were given offers higher than they expected, with 20% of respondents getting $3,000 more than they thought their vehicle was worth.
The Tesla Model 3 is one of the most sought-after used cars on the trade-in market.
(Tesla)Several models have also seen significant gains in recent weeks, with payouts for the Tesla Model 3 and Toyota Rav4 Prime up 12% from March to April.The Tesla Model Y followed closely at 9%, but it’s not just electrics and plug-in hybrids that are increasing in value.
The Toyota Corolla continues to hold its value as a used vehicle.
(Toyota)The Kia Optima and Toyota Corolla were also up 12% and 9%, respectively, to round out the top five.Kia’s and Tesla’s lineups were the strongest overall, with an average boost of 7% during the period.CLICK HERE TO GET THE FOX NEWS APPOf course, the flip side of this is that used and new car prices remain high, but if you come across a good deal or have an extra vehicle you can live without, now may be as good a time as any to unload your old vehicle.

Mojtaba Sadira

Leave a Reply

Your email address will not be published.