Now is a superb time to promote your previous automotive. Used automotive gross sales are hovering


Accordingly, many are turning to used cars instead. That, in turn, has driven up used car prices.

Lightly used vehicles — those that are a couple of years old with low mileage — are now selling for 75% to 80% of their original sticker price, said Ivan Drury, an auto industry analyst with Edmunds.com. As recently as 2019, a more normal year, those cars would have been going for 65% to 70% of their original price.

“If somebody has a second or third or fourth vehicle or whatever that they’re not using, they can definitely capitalize on that right now,” said David Paris, a vehicle valuation analyst with J.D. Power.

Keep in mind that you probably won’t get 70% of the vehicle’s original price from a dealer, said Drury. “But, at the same time, it’s a huge indicator that there’s a lot of value there.”

How Covid has changed the way used cars are sold

A dealer that buys your used vehicle has to leave some room to make a profit after reconditioning and marketing it. The key is figuring out how to maximize the value in your vehicle.

You could…