Many people would be surprised to know that now is one of the best times to sell a used car in recent years. Dealers are paying out almost 30% on average more on a used car than what they paid in 2008. Part of the reason is the simple economic process of supply and demand. More and more owners are holding on to their used cars upwards of a year longer than they once did. Thus, the pool of vehicles is tightened and prices climb to deal with the larger demand.
Part of the reason for this shift was the economic situation many found themselves in through the past few years. Though statistics showed that the United States was recovering from the recession, there were still quite a few people that were struggling to make ends meet or find employment. Today, the larger problem is the price of gas as fuel hovers around $4.00 a gallon.
More people are contemplating buying a more fuel efficient model or even upgrading to a hybrid. This approach is not necessarily the best one by any stretch of the imagination. A hybrid requires a much larger upfront payment with the purchase of the vehicle than a contemporary automobile does. In addition, they require more self control as it has been found hybrid drivers tend to be on the road 25-30% more than those with regular automobiles. Thus, the carbon footprint is really no different as these owners feel they can drive their hybrid more with a lesser impact.
The price on fuel efficient used cars from the past has shot up significantly. The small cars of pre-2000 are proving to be exceptionally popular choices as they provide great gas mileage and are fairly affordable. These cars have seen their value rise since the price of fuel really began to climb. For many car owners, keeping their fuel inefficient automobile will turn out to be a better value in the long run than attempting to find a cheaper, more fuel efficient model.
A thorough amount of research should be conducted before taking the steps to buy or sell a used automobile. If an owner does choose to sell, it is a great market for sellers as buyers hunt for fuel efficient models from the past.