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Trade-ins Get You Top Dollar
September 2011
As you know, the price of gold is at an all-time high. People are digging through cluttered drawers and forgotten boxes looking for gold to cash-in while the yield is high.
In this tough economic climate, it is crucial to take advantage of opportunities that will provide you with the best value and greatest return on investment.
Look around, did you know there is gold in your driveway?
Like gold, pre-owned vehicle trade-ins values are also higher than they have been in years. Reason is, there is a shortage of used car inventory. With this in mind, it is a good time to seriously consider the trade-in or sale of your vehicle for a new or pre-owned model.
Why is there lower used car inventory?
Used car lots are a little thinner these days because people are keeping their cars longer, new cars sales over the past few years have been lower - so there are fewer later-model used cars to choose from. Conversely, used car prices are also higher because of this shortage. Dealers are paying top dollar for trade-ins and even higher for fuel efficient cars! This means big bucks for you!
There is good news for purchasing a car at this time, even though the economy is still making it tough for many Americans.
Aol Auto expert David Kelly says the best possible move you could make right now is to sell or trade-in a small, full efficient car if you have one to sell. You will get top dollar for that. Then, consider buying a minivan, SUV or pick-up truck. These types of vehicles are still getting very generous incentives.
Be Prepared
Before heading to the dealer, shop NYautoguide.com or our conveniently located printed guides. If you can present a letter of approval from a lender or a pre-approved check, this may leverage your negotiating power. BUT, always ask the dealer if they can beat the interest rate. They may be able to do so and include perks like warrantees, car washes, service, etc.
If you buy used, an advantage may be obvious - you are going to spend less than you would for a new car. So educate yourself and always go to an authorized dealer over a privately sold vehicle; it will protect you from fraud.
Happy hunting!
Illene Moriarity
Editor, Owner
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