Face it, it’s one of the hardest aspects to buying a new car – selling your old one. Nobody enjoys it and we’re left wondering if we could have gotten more for it. The good news is that used cars have recently gained in value rather than lost it.
This is a phenomenon that seldom happens, but Kelley Blue Book found 23 vehicles that have actually gained in value from a year ago. One of the top cars that have gained in value is the 2012 Chevrolet Malibu. Its value increased 4.1% from $12,925 last year to $13,450.
One of the reasons for this widespread increase in car values was the long, hard winter we just faced. Prices historically go down in the winter and increase when the weather warms. And if you’re looking to sell a pickup truck, chances are you’ll make more money on it as well. CarGurus.com found that trucks kept their value the longest while luxury cars lose theirs the quickest.
Don’t forget to do your research before selling or trading in your used car. Websites like Kelley Blue Book or Edmunds can help you find out what your precious set of wheels is really worth.
To put even more money in your pocket when buying a new car is to buy one using the Credit Union Member Discount from GM. As a credit union member, you can save thousands on an eligible new Buick, GMC or Chevrolet. Click here to save on a new GM today.