If you’ve been wanting to trade in your old car but waited to do it, you won’t get as much for it as you could’ve during the peak of the pandemic. Trade-in values hit a high of $25,556 in June 2022, according to Edmunds. Meanwhile, the average transaction price for a used vehicle peaked at $31,300 in April 2022, J.D. Power said.
“The low mileage, newer stuff isn’t going as fast because you can get something brand new for a really good price or maybe even cheaper,” Whitney Yates-Woods, dealer principal of Yates Buick GMC in Goodyear, Arizona, said of used vehicle inventory. “We’re trying to stay away from that just-slightly used vehicle.
