Now Is Perfect Time to Sell or Trade In Your Car, According to Kelley Blue Book

May 6, 2021

Market Conditions Prime for Peak Consumer Profit Amid Low Inventory, High Prices. Used Car Sitting in Your Garage Currently Worth on Average 18% More than Last Year

IRVINE, Calif., May 6, 2021 /PRNewswire/ — If you have been considering selling or trading in your car anytime soon, now is the time to get serious. With low vehicle inventory on dealership lots, increased car-shopper demand and resulting high prices, the market conditions are prime for peak consumer profit for people selling their vehicle, according to Kelley Blue Book.

Used-car prices are up 18% year-over-year, meaning that a used car sitting in someone’s garage right now is currently worth on average nearly one-fifth more than it was last year. Given the high-ticket prices of vehicles, that percentage can translate into quite a bit more cash lining a seller’s pockets. To view it another way, vehicles that were retaining 55% of their value a few months ago are fetching 60% to 65% of it now.