Why is Now a Good Time to Sell Your Vehicle?

June 29th, 2021 by

Have you been meaning to trade in your old car but just haven’t got round to it yet? If you’ve got a vehicle that you want to use as a part-exchange for a newer one, or simply a used car that you want to sell, now is the time to do it! A combination of global and national trends means there’s probably never been a better time to put your used car on the market.

The Used Car Market is Booming

Research shows that used cars are currently commanding significantly higher prices than they did a year or so ago. There are various reasons for this, not least of which is that new cars are in short supply at the moment.

During the past eighteen months, when the pandemic was at its worst, car manufacture slowed significantly both nationally and internationally. There were several reasons for this, including:

  • Reduced demand. With a large number of businesses shut or trading slowly due to restrictions, and significant numbers of people working at home, many families haven’t felt the need to purchase a new vehicle. Commercial purchasing also slowed, due to reductions in trade. A fall in demand coupled with difficulty in maintaining production caused many car factories to reduce or cease production.
  • Disrupted supply chains. The pandemic and its associated restrictions meant that it was difficult to source all the raw materials needed for vehicle production.
  • A reluctance to spend – with both businesses and individuals facing an uncertain economic future, the past year or so has been marked by a growing trend of saving and conserving resources, rather than investing in new vehicles.

Although the car industry is now recovering and production has begun to rise, it’s still not at pre-pandemic levels. Recovery will be a slow process, which means the shortage of new vehicles is likely to continue for another year or two. Rather than wait for a new car to become available, a growing number of drivers are turning to the secondhand market, which means if you’re looking to sell your car, you’re likely to obtain the best price for it just now.

A Dealership is a Great Alternative to a Private Sale

If you’re Googling, “How to sell my vehicle quickly and easily”, a visit to your local dealership could be the perfect solution. Dealerships for recognized manufacturers such as Toyota can often take your car off your hands immediately.  A reputable dealership will deliver reliable payment quickly and conveniently.

In contrast, the private sales process can be expensive in terms of advertising and can take a long time. In addition, unscrupulous individuals may swindle you out of your vehicle through a private sale.

Why risk it? Take advantage of the high resale price your car could command if you sell now!

Get in touch to find how much your car could be worth if you choose to trade it in.

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