Pre-Owned Cars Are In Demand — And Trade-In Cash Offers Are At ‘Highest Ever’

SACRAMENTO (CBS13) — Good quality for car buyers who privation to commercialized successful their conveyance for cash: There’s a shortage of pre-owned cars, and dealerships are buying.

The pandemic and proviso concatenation impacts from it are inactive at-work connected the car industry. Car companies can’t marque caller vehicles accelerated capable to conscionable the request due to the fact that of a planetary semiconductor shortage — among others. Production has slowed and can’t conscionable the request that started during the pandemic.

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Enter: pre-owned oregon certified pre-owned cars.

Sacramento dealership, Niello Volkswagen, has a enactment of pre-owned cars successful front: Jeep, Mercedes, Audi, and Porsche models beryllium alongside the Volkswagens. They’ll instrumentality thing make, model, oregon twelvemonth — if they don’t crook it astir to resell it, it goes to auction.

“What we’re seeing close present is that a shortage of caller cars has created a heightened request with a debased supply. So what that’s doing is present there’s a higher request connected utilized vehicles. It’s expanding the marketplace value,” said Eddie Thomas, wide manager astatine Niello Volkswagen.

Thomas said currency offers for trade-ins are astatine their “highest ever” and it’s not a selling ploy, helium notes, utilized cars are successful demand. Especially with online car buying picking up during the pandemic, dealerships request to person options for customers connected the lot.

It’s why, helium said, they’ll instrumentality anything.

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“We’re partners with Kelley Blue Book. We usage their instant currency connection process. We’re a preferred purchaser for them. And erstwhile you plug your condition, past marque exemplary miles, it calculates the fig for us,” said Thomas.

Niello Volkswagen is adjacent getting originative and hosted their largest Kelley Blue Book Instant Cash Offer Day past play to promote customers to trade-in their vehicles. With each appraisal, customers received a $50 Visa Gift Card, escaped car wash, complimentary nutrient and beverages, and a raffle summons for prizes.

Of course, on with the freebies, they besides received a currency connection successful nether 15 minutes. The goal, Thomas said, is to turn the fig of utilized vehicles connected the batch to marque up for the deficiency of caller ones.

To enactment it successful perspective: In November, determination are 15 caller cars connected the batch astatine Niello Volkswagen, portion usually, determination are 100.

“There’s truly nary conveyance that’s not successful demand. I mean, everything from Kias and Hyundai and Hondas, up to Mercedes, Porsches, Audis, Volkswagens, everything. Everything is successful precocious request close now,” said Thomas.

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Thomas said helium expects the delays astatine car factories to proceed into 2023. As for erstwhile helium sees trade-in offers going down, that’s harder to pinpoint. He said his proposal for those considering a trade-in is not to hold — due to the fact that determination is nary precedent for a buy-back marketplace similar this one.