1200 × 630The Covid 19 pandemic affected every part of the world economy, and the used car sale industries were no exception. While there was a slowdown in the industries, things have started to turn around offering a unique opportunity for car sellers. It is a great opportunity to trade in your car for high profits. The used car market is profitable, and this is the best time to trade in your vehicle.

The Best Time to Trade your vehicle

While most industries faced significant challenges during the pandemic, the car sale industries are gradually recovering and this is the best time to trade in your vehicle to make profits. The following guidelines below will help you make the right decision.

Vehicle model

It is easier to make profits selling vehicles people want to buy. Some vehicles are best-selling in some areas. According to Car and Driver, the best-selling cars in the USA include Ford F-Series, Chevrolet Silverado, Ram Pickup, Toyota RAV4, Honda CR-V, and Toyota Camry. You can search for the best-selling cars in your city for instance Cherry Hill, NJ.

Mileage

The value of vehicles drops every 10,000 miles. There is no number of miles you can consider your car won't be available for trade in. As your car gets close to 100,000 there is less chance to be included in the certified pre-owned category. For higher mileage, you only need to consider its mechanics, performance, and in-demand model.

Time of The Year

People purchase vehicles in the first and second quarter of the year, and also during holidays. The demand for used cars has increased since the pandemic. Dealers are ready to pay more for trade-in which means trade-in value.

The best time to get the most amount of money is when the demand for vehicles is high. Dealers pay for more trade-in deals since it is difficult finding affordable vehicles in inventory.

Vehicle Age

There is no doubt that newer vehicles have the highest trade-in value. Car values after a certain number of years. The car becomes worth less than 50% of the original purchase price after five years of use.

After five years of use, the car starts to lose value, and it is difficult to sell easily.

Car Loan

It is best to avoid trading in your car when you haven't paid your bank loan more than the worth of the car. In essence, you may end up giving out your trade-in profit to the bank.

It is best to pay for your car loan before trading in your car.

At Jaguar Cherry Hill, we make your car trading experience easy, try our online trading tool.  

You don’t have to wait any longer to get behind the wheel of your dream car. Browse our online inventory for new and used vehicles to see what’s available and schedule your test drive.