Car market

Recent Surveys Show It’s Good Time to Sell or Trade-in a Car

According to the latest data about average transaction prices for used and new cars, almost half of surveyed customers are ready to spend $5,000 over a list price for a new vehicle.

The surveys were made by The post-pandemic economy has its own specifics. It is about the price rise for late-model used cars. Prices for them are growing, but some models undergo greater increases than others.

1- to 5-year-old vehicles of the following models have risen in price by a quarter:

  • Chevrolet Silverado/GMC Sierra 1500
  • Ram 1500
  • Toyota Tundra
  • Mercedes-Benz S-Class
  • Chevrolet Camaro,
  • Mitsubishi Mirage
  • Land Rover Range Rover Sport

The Chevrolet Corvette and the Mercedes-Benz G-Class prices have surged even more – by 33 percent.

Prices for the following vehicles have increased by less than half of the 17 percent overall average:

  • Subaru Crosstrek
  • Subaru Impreza,
  • Toyota Prius
  • Mazda CX-3
  • Honda HR-V
  •  Mercedes-Benz GLC
  •  Audi Q7
  •  Volvo XC90

At the same time, the BMW i3 and Tesla Model S haven’t seen any price rise. The Tesla Model S value even slightly declined. The assortment of electric vehicles expands, and the used EVs value goes down.

Actually, it is the right time now for car sellers and for trade-in. People are ready to part with their money, and a used car can be sold for more this year than a year ago. Of course, there is dependence on the model.

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