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Experts reveal which 3-year-old cars have the highest trade values as demand soars in the second-hand market the pandemic
SANTA MONICA, California, August 27, 2020 / PRNewswire / – Edmunds auto acquisition experts say that all vehicle owners can gain advantages by verifying the price of their cars, as exchange costs continue to increase the pandemic, but keep in mind that truck owners, in particular, are in the most productive position to take advantage of the merits of their cars now. According to Edmunds recovery data, trucks retain the highest price and get the highest recovery costs from any customer’s vehicle.
Edmunds analysts reviewed all 2017 cars that were marketed in July and decided their respective retained costs by comparing the average exchange value of each style with their average-source MSRP. Edmunds’ knowledge shows that medium, heavy and giant trucks made up seven of the ten most sensitive cars with the highest total cost decided. Toyota Tacoma ranked first, with an average exchange value of $26,766, or 75% of its original MSRP. The Ford F-350 Super Duty came here second, generating an average recovery of $49,174, or 74% of the vehicle’s original MSRP. Below is the full list of the 10 most sensitive, as well as the full list of cars with the highest cost decided across the segment.
“Trucks were an increasingly popular selection for new car buyers during the pandemic, but due to plant closures, the new inventories were unable to meet demand. It was high prices as more and more buyers come to the used market,” Said Jessica Caldwell. Executive Director of Insights at Edmunds. “If you’re thinking of promoting the truck at the entrance to your house, it’s time to do so.”
Since used cars are in high demand lately, Edmunds experts point out that it’s a smart concept how much you can sell yours to what you can put in a new car. Your vehicle is possibly more valuable than you think. To do this, they recommend getting a genuine money offer for your vehicle on sites like Edmunds as it saves time and can be done in convenience and home protection.
For buyers looking to buy a truck now, Edmunds experts propose that they stay until September or October, when new stock is more likely to be obtained as automakers continue to increase production.
“The exchange prices we see for 3-year-old cars dispel the myth that cars lose some of their price when taken off the field,” said Ivan Drury, Edmunds’ senior director of analysis. “With such high demand for used cars, this gives many existing vehicle owners the opportunity to upgrade their existing vehicle by taking advantage of this top net price or to sell their vehicle directly and have more cash available.”
Top 10 vehicles, ranked by retained price (model year 2017)
Vehicles with a price retained across the segment (model year 2017)
For the full list of cars for the year 2017 and their determined values, click here: www.edmunds.com/sell-car/3-year-old-automobiles-ranked-by-value.html
For more studies and data on the automobile, the Edmunds Industry Center here: https://www.edmunds.com/industry/insights/.
About EdmundsEdmunds guides online car buyers from search to purchase. With in-depth reviews of new vehicles, in-house expert purchasing tips, and a wealth of customer and automotive market data, Edmunds is helping millions of buyers select, rate and buy a car with confidence per month. Considered one of the most productive workplaces in the United States through Fortune and Great Place to Work, Edmunds is founded in Santa Monica, California, and has a satellite workplace in Detroit, Michigan. Follow us on Twitter, Facebook and Instagram.
CONTACT: Talia James-Armand Deputy Director, Public Relations and Communications [email protected] 310-309-4900http: //edmunds.com/about/press
SOURCE Edmunds
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