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Used Car Prices Are Expected to Remain Higher!

What we are going to tell you might sound alarming if you are planning to buy a used car but seem excellent news if you have a used car in the backyard of your Fenton home and want to sell it.

High prices of used cars are the new normal, at least for a few years! Yes, you heard it right.

It is no secret that car prices have been higher since the pandemic as it disrupted supply chains and lead to shortages of critical auto components. While it is becoming very difficult to get your hands on new cars due to exorbitant prices, the used vehicles’ market has got very hot. The lack of new cars available in the market has created a much higher demand for cheaper used cars.

As such, since March 2020, the prices of used cars have increased by a staggering 39.8 percent, as revealed by the U.S. Bureau of Labor Statistics’ Consumer Price Index. At the same time, the BLS measured inflation in new car prices by 8.9 percent, whereas the overall U.S. inflation was up by 6.3 percent.

Many people might have assumed that the prices of used cars will get lower by the end of 2021. However, the reality is that the high prices of used cars are not expected to moderate significantly anytime soon, not even through the first quarter of 2022. It could be even 2025 or later before the supply and demand for used vehicles return to pre-pandemic levels.

There is a very low chance of used car prices being lower than that of the present between now and the end of tax refund season. And right now, used car prices are extraordinarily very high. Experts believe that the used-vehicle inventory is projected to remain tight for many reasons, and the demand will also be very high. That will be true even if the shortage of computer chips improves by the tail end of 2021.

Now Is the Best Time To Sell Your Used Car!

Since this is the time when people are willing to pay higher for even used cars, it is also the best time for car owners to sell their used cars if they no longer need them for any reason.

We understand that everyone wants the highest cash value for their used cars. While it might be difficult to find someone in your area in Fenton who might pay the highest amount for your used car, it would be much easier if you choose to call a trusted used car buyer in Fenton.

Why? Why should anyone call a used car buyer at times when a car owner can find a good deal of their own?

Well, there are not one or two but many reasons to prefer selling your used car to a used car buyer company in Fenton than anyone who contacts you to buy your car.

A trusted used car buyer will:

  • Correctly assess your car condition and offer the top cash you can get for your used car
  • Make an offer with the real cash instantly, meaning no delays or pushing the buyer to give the entire amount timely
  • Not leave you with car ownership transfer work as they take care of it
  • Buy your used car no matter in what condition it is
  • Tow away your car for free

So, it is much wiser to contact a reliable and esteemed used car buyer in Fenton when it comes to selling your used car.

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