Many analysts were surprised when earlier this year, the value of used cars stayed relatively still. However, that's changed over the last few months as fuel-efficient pre-owned vehicles have become more in demand. If anybody is looking to trade in their vehicle, now may be the time to do it.<\/p>\n
Of course, some cars are proving to be a bit more valuable than others. According to market analysis from Kelley Blue Book, used car values rose about 2 percent across the country during March, and one- and two-year-old fuel-efficient vehicles were especially sought after. Specifically, the value change of hybrid cars was about 10.2 percent and that of compact cars was 6.1 percent. The value of used subcompacts rose about 4.7 percent, while mid-size cars came in at 4.6 percent.<\/p>\n
The trend has been continuing since 2009, when there started to be a dearth in the amount of used cars since more drivers were holding on their vehicles a bit longer than normal. In fact, the Los Angeles Times reports there amount of three-to-four-year-old light vehicles is almost at an all time low, so trading in your car now might be the best decision.<\/p>\n
"The ongoing decline in the used-vehicle supply that began in 2009 has made it challenging for new-car dealers to consistently stock reliable, well-maintained used vehicles," Jonathan Banks, an analyst for the National Automobile Dealers Association, told the Times. "This means that dealers will be aggressive with trade-in offers for used vehicles that are in high consumer demand."<\/p>\n