Time to Sell a Car in Indianapolis: Used Cars Became More Expensive Than Ever
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Indy Auto Man experts explain why used cars are estimated higher than new ones, what to expect, and how to benefit from the market fluctuations.
INDIANAPOLIS, INDIANA, USA, March 22, 2022 /EINPresswire.com/ -- Crazy time: the used cars cost now more than the price the owners paid for them a couple of years ago. Families with several vehicles sell some of their cars at a significant profit.
Customers have been observing this used car market trend in the latest years: many models do not depreciate. On the contrary, they become more expensive despite their age, breaking all pricing rules. Used car sales to dealerships turn out to be the most beneficial for US drivers. Usually, dealers estimated cars 10-20 percent below the average market value, but now, when most stocks are sold out, they are ready to offer a premium price for any vehicle in good condition.
Experts from the Indianapolis used car dealership, Indy Auto Man, put it simply: it’s a prime time to sell or exchange a used car. Both options are very profitable now. And as the industry is still unable to provide as many new cars as people want to buy, used cars are the best option.
“You can receive a used car in a couple of hours, while the delivery of a new one in the desired trim can take months. This circumstance leads to a rush in the secondary market and an increase in prices,” comments the situation Victor Figlin, the General Manager at Indy Auto Man. “Given that we strive to keep an average market price and accept all models and makes, our car lot inventory is constantly updated. If previously new arrivals stood for 30-60 days, now they find a new owner on average in a few weeks. This gives us an opportunity to offer attractive prices to the customers who want to sell their cars to us. It’s a win-win deal.”
The current situation is extremely beneficial for those who have been thinking of getting rid of a used car that was parked most of the time. And selling it to a dealer today means receiving the money the same day, with no burden of communication with strangers and no headache with legal issues. As for trade-in, in general, it becomes a bit more complicated. Due to the shortage, it is not so easy to find a proper car for exchange. But when dealing with a large and top-rated used car dealership, like Indy Auto Man, Indianapolis car buyers can still find top level trims and advantageous offers. There are always more than 300 vehicles at their car lot, including sedans, hatchbacks, sports cars, convertibles, SUVs, and pickup trucks for any taste and budget.
The US market seems ready for the new reality: the prices of some used cars are higher than the corresponding new ones. Used cars have never been so expensive. According to the Carfax report, the average used car price is $28,000, while Edmunds statistics show it has already reached $29,500.
Meanwhile, in the last half of the year, the price growth was twice slower, by an average of 1-2% per month. At the same time, in the popular segment of used cars under $20,000, the rise in price is on the verge of market fluctuations. The increase is unlikely to stop till the end of the second quarter of 2022 when the availability of cars is expected to improve. The stabilization may also be delayed due to the tense situation in the world. However, car selling and trade-in offers will hardly be more beneficial than these days.
About Indy Auto Man
Indy Auto Man was established in 2008, and since then they provide customers from Indianapolis, Greenwood, Fishers, Westfield, and other Indiana cities with high-quality used cars of world-famous brands. Being an active Indiana community participant, the dealer is an initiator of many social programs, such as IAM 4 Indy and Indy Arts Fest. A share from each car sale at the dealership goes to charity.
Victor Figlin
Indy Auto Man
+1 317-300-5002
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