Car Trade-In Values have hit an all-time high for May 2021. Manufacturers and Dealers have been faced with low inventory problems caused by parts shortages across the world, which have caused the historic spike on New Car Prices. Following the Covid-19 Pandemic Dealers and Manufactures have been face with shortages on car parts, leading to inventory issues across the nation for Car Dealers. Florida Car Dealers have seen an increase inventory shortages, with buyers quickly wanting to order or lease the latest brands and models.
According to the latest report from our industry analysts, the average trade-in value for all used vehicles reached an all-time high in March, climbing to $18,136 compared to $15,317 a year ago — an increase of $2,819.
When is the best time of the year to buy or lease a new car?
The is the popular saying “there is no better time to buy a new car!”, the purpose of the ads is to attract new customers to spend more money, also there is a new element of time as a factor. There is always certain days or month in the year that shows as the ideal time to get yourself a new ride. Most automakers and car dealers try to give several incentives of financing, cashback, and leasing in other to attract customers every month. Most of these industry gives offers almost yearly, while others provide these incentives monthly.
When it comes to buying new cars, all that matters is a dealership and the sales target that manufacturers try to meet. The closer people get to the milestone the faster they would be able to close a car deal and move the inventory. But to answer the question, the best time for getting a car deal done is usually the end of the month, end of the year, or end of a quarter. In this article, we would do out the best time during this period to get good deals.
What to Know About the Current New Car Market?
- Used car trade-in values have increased due to limited new inventory and shopper interest in quality used vehicles.
- Industry data reveals that the average trade-in value rose $2,819 in May 2021 compared to a year ago.
- SUV’s and Trucks retain the greatest value and command the highest trade-in prices of all consumer vehicles on the market right now. Ford F-250 Super Duty, GMC Sierra 2500 Heavy Duty and Ford F-350 Super Duty all tied for the top spot on the list, retaining 90% of their value on average especially in the Florida Truck Market.
- New car discounts will not be as plentiful as in years past, so it’s important to shop sooner rather than later and maximize the value of your trade-in.
Signature Auto Group New York & Florida’s Premiere New Car Leasing Company
With Signature Auto locations in Brooklyn, NY and Fort Lauderdale, FL we are dedicated to providing our New York Auto Leasing and Florida Car Leasing customers the best deals on the latest Auto Leases. As a company we learned a long time ago just how significant it is to have talented, loyal and motivated staff to serve our clients in every aspect; before, during and of course even after such an important vehicle purchase. Even though this will always be an ongoing process, this organization has been fortunate to have attracted and retain such extraordinary individuals at every single level in this company.
We are honored to serve all Signature Auto Group clients past, present and future clients in the major areas of the United States and around the rest of the world. Signature wants their customers to enjoy life to its fullest. We also have high standards that the staff agrees with and are committed to providing you with the service you deserve. The sales staff is extremely knowledgeable about our products and is there to get you the fantastic vehicle that you want and desire. Come on in and check out our extensive inventory that includes all the latest makes and models of vehicles. It doesn’t matter whether you are wanting to purchase or lease; we have the perfect plan for you. And don’t forget to check out our specials, we are always having great lease specials on a lot of the new vehicles in stock.