The resale value for used cars has become a major topic of discussion in the industry because dealers throughout the country have shortages in their used car inventory. As a result, a number of large car sellers are offering top dollar for a well-maintained used vehicle.
For car owners who like to trade-in their units for the latest model, the current market conditions work to their advantage. However, there are some vehicles that have a higher resale value than others, and Investopedia recently highlighted some of the best value deals for used car buyers and sellers.
Consumers who recently bought a Mini Cooper Clubman 2-door hatch can receive up to 64 percent of the initial price tag, according to the report. Add the trade-in value with a new car loan and consumers may be a signature away from purchasing a brand new vehicle without completely breaking the bank.
If a new luxury car is on the docket and you own an Audi A5, you may be able to earn about 67 percent of the original price by trading it in. With a value of $37,375, owners of this car may be able to receive about $25,000 to put toward a new vehicle.
Before seeking out a used car loan or financing for a unit, consumers may benefit from researching the going rates for the vehicle they want at a number of different dealerships, including online sellers.
