See What Your SUV Trade In Value Is
Are you selling your SUV this year? Read a guide on how COVID-19 caused SUV market values to change & see what your SUV trade in value is today.
If you are like many Americans and plan to sell your used sports utility vehicle (SUV) to supplement income after a financially challenging 2020, it is highly advisable to research current used car market values. COVID-19 caused significant financial troubles for many industries in 2020, the automobile industry notwithstanding. SUV market value fluctuations were hard to follow at some points during 2020 and unexpected all year long. It is essential to understand the current real market value of your SUV before attempting to trade it in or sell the private market.
How do I find the real market value of my used SUV? Does my SUV need to be in a specific condition to get the best trade-in prices? In order to get the best trade-in or selling price for your SUV you have to spend time preparing it properly. You also have to have good timing and negotiating strategies. Getting the best trade-in offers on your SUV is much more likely if you have an accurate understanding of its real market value. How did the COVID-19 pandemic specifically impact the used SUV market in 2020? How is it still affecting prices today? Read ahead for an informative guide on COVID-19-related used car market fluctuations and see what your SUV trade-in value is now.
Why Sell Your SUV Now?
COVID-19 caused multiple financial issues for the automobile industry in 2020. These issues included reduced SUV production due to factory worker layoffs. Interestingly enough, demand for SUVs increased during the height of COVID-19 supply deficit in 2020. SUVs offer a combination of safety, size, control and freedom – all the things COVID-19 stripped away from normal life. Most SUVS offer it all, from off-road adventures to family road-trips and safe city driving to comfortable mini-getaways.
Further, the COVID-19 pandemic created a surprise used SUV sellers market throughout 2020. Why sell your SUV now? Used SUV prices in Q4 of 2020 were still going up but the 2021 market is finally stabilizing. In order to get the best trade-in or private sale price for your used SUV it is best to sell it soon.
Best Websites & Resources to Get Real SUV Values Today
The Kelley Blue Book (KBB) is known as one of, if not the most reliable/trusted resources for assessing the value of used SUVs and other vehicles today. Founded in 1926, the KBB has been providing the most accurate information about used vehicles for almost a century. Today, the KBB website offers multiple ways of assessing your SUV’s value, including a five-year cost-to-own feature, which determines the value of your SUV after five years of depreciation and other factors.
Another comparable resource for used-car values is the National Appraisal Guides (NADAguides) website. Operated by J.D. Power the NADAguides offers multiple helpful features including comparison-searches for new & used cars, AutoCheck Vehicle History Reports (VIN) and tips for buying /selling used SUVs in today’s market. Additional websites and resources available for assessing the values of used SUVs today include:
Top 5 Most Popular Used SUVs to Purchase in 2021
2016-2020 used Subaru Foresters are the #1 most popular used SUVs to purchase in 2021. Low financing, year-round driving capabilities and some of the best safety features on the SUV market all lend themselves to the popularity of this top quality SUV. 2016-2020 used Mazda CX-5’s are the #2 most popular used SUVs to purchase in 2021. The Mazda CX-5 combines classy looks with a sporty feel. The interior is also upscale and the handling gives drivers optimum control. 3 additional popular used SUVs to purchase in 2021 include:
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GMC Terrain
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Ford Escape
Understanding Current SUV Trade-In Values
Obtaining a trade-in value for your used SUV is easy and convenient to do using any one of the websites and resources available online today. Gaining an accurate understanding of the true market value of your SUV takes extended research. Used car market prices went up by close-to fourteen percent in 2020. This increase exceeded normal inflation amounts by 1,000 percent. Getting the best trade-in value for your SUV requires extensive work and preparation, however. Dealers are still trying to make up for all the income their businesses lost due to COVID-19 shutdowns and other financial issues. You have to take advantage of several strategies to get the most from trading in your SUV in 2021.
SUV Custom Appraisals
Use an independent custom appraisal company to assess the value of your SUV. Independent appraisers have no claims staked in the ending sales/trade-in price you get for your SUV. You might pay $100-500 for the appraisal, but the cost benefits far outweigh the expense when you are offered a higher trade-in offer. Independent custom appraisals arm you with accurate real-time knowledge about your SUV’s market value, which gives your negotiating power and a higher trade-in price. Contact the Bureau of Certified Auto Appraisers (BOCAA) online or 1-877-424-8560 to schedule with an independent custom SUV appraiser near you today.
Getting Best Value – What Shape Should Your SUV Be In?
Be certain your SUV is in great shape prior to posting photos for private sales or showing to dealers for trade-ins. Pay for detailing/cleaning if you cannot do these things yourself – it helps get better offers. Put up as many clear/focused pictures as you can of the interior & exterior of your SUV. Make sure all mechanical issues are fixed prior to attempting a trade-in. Is your paperwork up-to-date and available? Having accurate paperwork helps you take advantage of great trade-in offers fast.
How Long Do Trade-In Offers Last?
Trade-in offers have expirations. Some businesses hold offers for up-to seven days. Other trade-in prices might have 24-hour expirations. Before you begin trade-in negotiations ask about expiration times, so you do not lose out on the best offers made.
