There might not be a better time than now to trade in your vehicle. There are several reasons stemming from interest rates to supply shortages, but the number one reason is the unprecedentedly high trade-in value of used cars right now. Here’s why that’s the case.
Used Car Values
The supply chain was already stretched thin with so many high-tech components now essential parts of vehicles of all sorts. With the pandemic, that system broke.
This has caused car prices, both new and used, to skyrocket. While unpleasant, on the one hand, it does make the value of your trade-in higher than almost any other time in history.
Interest Rate Relief
Another reason why now is the perfect time to trade in your vehicle is due to interest rates. The best way to handle the rising rates is to either put a higher amount down or trade in a car. This is the best way to reduce your monthly auto loan or lease payments. No matter your credit score, a trade-in has the most value and relief you can get.
Depreciating Vehicle Value
The last and possibly most crucial reason why now is the time to trade in is that sooner is always better. We all know that cars depreciate, but that only becomes clear if you decide to wait to buy a new or used car and see that your trade-in is valued less than you expected. The longer you wait, the less you receive for your trade.
Trade-In Help at Our Van Nuys Lexus Dealership
We’re here to help with any and all trade-in questions at Keyes Lexus of Van Nuys. Schedule a meeting at our Lexus finance center to speak with an expert that will work to maximize the positive impact of trading in a vehicle.
