For those who purchased a automobile final 12 months, it might now be value greater than you paid for it
In that case, you likely made an amazing investment because you could now possibly sell your one-year-old car at a profit or, at least, get back nearly what you paid for it, according to an analysis Edmunds.com conducted for CNN Business.
Normally, a dealer selling a one-year-old used car will get about 80% to 85% of its original price, according to Edmunds.com. But, according to the site’s most recent figures, car dealers can now sell one-year-old used cars for about 95% of the original price. That’s the average. And some used cars and trucks are worth even more than they cost when they were new.
What makes your Jeep Wrangler, Subaru Ascent or Honda Civic worth more than it was when it was brand new a year ago is the simple fact that it exists. It is a car that has already been built, at a time when there is enormous demand for cars and SUVs and not enough inventory to meet that demand. Due to disruptions in supplies of crucial computer chips, auto makers are having trouble making…
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