Is Now a Good Time to Sell a Car?

September 6th, 2023 by

Man Holding Keys
 

We’re often asked this by drivers in Johnston and throughout the Des Moines and Waterloo areas. Understandably, you want to get the best price possible when selling a car, but there are some factors to consider when determining whether now is the time to sell. Delve into these factors below, and if you have any questions, don’t hesitate to reach out to the team at Acura of Johnston.

 

Should I Sell My Car Now?

So, is now a good time to tell a car in the Johnston area? While Blue Book values have fluctuated and interest rates have inched upward over the last few years, now can be the right time to sell a car if you sell to a dealership. The industry is in a strong place, but it is still bouncing back from the effects of the pandemic, semiconductor shortages, and supply-chain holdups. As a result, used cars are in high demand on area lots, as they aren’t subject to any of these challenges. At the same time, this has led to used-car shortages across the country.

Here are some other considerations to remember when selling your car:

  • Consumer Demand: Talks of a recession have been ever-present for several months, so buyers are looking for used vehicles, as they tend to come with a lower sticker price and cheaper insurance rates and registration fees.
  • Work and Expenses: Remember the legwork and expenses involved when selling privately: advertising, calls and questions, test drives, and price negotiations. This can be a labor-intensive process. So, instead of, “Is now a good time to sell a car?”, you should ask, “Is now a good time to sell a car to a dealership?” And the answer is yes. If you want to sell your car quickly and easily, this is the best way to go. Plus, if you’re wondering, “Should I trade in my car?”, selling to a dealer will allow you to put the money toward another vehicle and lower the overall cost.

Why You Should Sell Your Car Now

Wholesale used car prices have been dropping for some time, but in recent weeks, there are signs that these prices are starting to level out. Wholesale prices translate to retail prices in about six to eight weeks, so it’s an important consideration for many used car buyers.

But what does this mean when you want to sell your car? Falling used car prices generally mean you might get a bit less for your trade-in vehicle. However, the continued used-car shortage caused by the pandemic and other factors will likely be around for some time–even with the current leveling-out in wholesale prices, which could only be temporary. So, ultimately, you’ll still get a good deal if you sell your car to a dealership now or in the near future.

Sell Your Car to Acura of Johnston

We’ve answered a lot of questions here: Should I sell my car now? Is now a good time to sell a car to a dealership? Should I trade in my car? As you can see, selling to a dealership like Acura of Johnston is a sound option that will net you a good deal while minimizing stress. Feel free to contact us or stop by our Cedar Rapids-area showroom to get the process started. In the meantime, obtain a preliminary quote and check out this guide to selling your car to a dealership.

 

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Posted in Car Buying Tips