Is My Car Really Worth More Right Now?

Market Factors

Remember 2020? The global pandemic single handedly shut businesses down across the globe. The result? Manufacturing shortages for materials such as microchip processors. This supply shortage alone is what experts say is the main culprit behind the current tightness in the new and used-car markets. With new vehicle inventory reduced significantly, more buyers for used cars have flooded the market and demand is through the roof. That translates to good news for you if you want to trade your vehicle or sell it to us outright.

Seller’s Market

According to a recent Kelly Blue Book analysis, the average price of a used car in the U.S. surpassed $20,000 in summer of 2020. This July, the average price of a used car rose to $25,101. Jumping more than 25% in a year is staggering considering the typical rate of vehicle depreciation. You are more likely to find yourself in a position of equity with your vehicle this year than any other year you may own your car. So what’s an owner to do? Sell or trade NOW.

How Should I Sell or Trade My Vehicle?

Many of our customers have found the process of selling or trading their vehicle at Mercedes-Benz of Annapolis a fast, easy and pleasant experience. Our trained experts are able to appraise your vehicle and make you an offer on the spot. We are frequently monitoring the market to ensure we are extending the best offer compared to our competitors. No appointment is necessary to get an appraisal, but it’s encouraged in order to expedite the process. Feel free to stop by or call to schedule your appraisal appointment today.