Car prices are constantly in flux, but recent changes in the used car market could mean an unexpected windfall for many drivers. Trade-in value is especially high, giving you even more credit towards your next new or pre-owned Lexus. Lexus of Valencia is a great place to start the process, and now is an especially good time to do so.
Changes in the Marketplace
As new car prices drop and pre-owned car prices increase, trading in your pre-owned car becomes an even better option. The global shortage of microchips is finally easing, increasing new car production and lowering costs. On the other hand, prices for pre-owned cars bought at auction are beginning to rise again, suggesting that they will be more valuable in the coming months.
While the global microchip shortage may be over, production will take time to catch up with the demand for new vehicles. This makes buying pre-owned still a more attractive option for many drivers, especially given that Americans keep cars longer and drive them farther instead of trading them in. This means that now is the best time for a trade-in.
Getting the Most Value
If you want to get the most out of your trade-in, keep a few deadlines in mind. Cars still under warranty are usually worth more, as are vehicles that have yet to hit 100,000 miles. If you’re approaching a significant service milestone, it may be more cost-effective to trade it in now, especially if you’ve kept up with your maintenance schedule.
Trade-ins, Financing, and More at Lexus of Valencia
If you’ve got a pre-owned car you’re planning to trade in, bring it down to Keyes Lexus of Valencia today! While you’re here, explore our wide selection of new and pre-owned Lexus vehicles to find your next perfect drive.
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