• Sep 19th 2011 at 2:20PM
  • 91
A 2008 BMW 328i is worth almost the same as a new 2011 ... A 2008 BMW 328i is worth almost the same as a new 2011 model (BMW).
On the fence about buying a new car? Consider that if you are looking to trade in or sell your car, chances are that you'll get more now than in past years, and more than you will likely get one, two or three years from now.

Why? Comb your memory. What was happening three years ago? The economy tanked, and so did new car sales and leases. That means there is a dearth of three year old vehicles today for car dealers to sell. In particular, dealers are used to having a load of cars coming off thee year lease to populate their lots.

The average value of 1- to 3-year-old used cars has risen from $15,000 in 2008 to more than $23,000 this year, according to analysis by Kelley Blue Book. The increase in value, 16 percent on average, is also due to slow sales and leases of new cars, which is causing a greater demand for used cars.

Fuel-efficient cars, especially hybrids, have seen some of the biggest increases in value this year due to high gas prices earlier this year. But as gas prices have dropped off since the start of summer, so have values, offsetting some of those gains. Since June, subcompacts and compacts have dropped by 8 percent on average, while hybrids have dropped 12.5-percent on average, according to Kelley analysis. Despite the decline, these cars are still up an average of $1,400 since Jan. 1. But if gas prices continue to creep lower, their value will continue to slip the rest of the year.

Analysis by TrueCar shows that selling your used car privately, as opposed to trading it in, will especially pay off, eliminating the dealer's cut between what they pay for a trade-in and what they sell the car for to the next customer. You can gain thousands by listing on a site like autotrader.com, ebaymotors.com or right here at AOL Autos.



The best way to know what your used car is selling for is to look it up on AOL Autos research tool or TrueCar.com. Make sure to include the correct trim level and features when you are searching for the true market price.

Remember to take care and precautions if selling the car yourself to a private party.

We recommend going on the test drive with the prospective purchaser. If possible, have two adults go with the prospective driver if they are a stranger. Never let a stranger test drive your car without you.

View Gallery: Used Car Values Soaring


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    • 1 Second Ago
  • 91 Comments
      LL
      • 4 Years Ago
      I am new to the internet and a friend of mine told me about this car insurance website: ( http://tinyurl.com/InsuranceTip ) It was so easy to find everything I was looking for, when getting free quotes and comparing prices. I saved over 380.00 dollars on my families car insurance costs. My neighbor is an insurance agent and he was amazed at the deal I found.
      Rick
      • 4 Years Ago
      Please don't try to foolus with quotes from Kelley. They're so far off from reality it's not even funny.
      • 3 Years Ago
      The fact that prices for cars have increased is really surprising for me. Well.. I was aware of the fact that new cars (http://www.pissedconsumer.com/consumer-reviews/auto.html) became more expensive, but old ones...That's great actually!) I finally will sell my //nissan nad get new wheels)
      geojacq
      • 4 Years Ago
      How car dealers ar ripping you off The Black Book, located at BlackBookUSA.com, is a book that compiles pricing of what a vehicle goes for at a private, dealer only auction or wholesale pricing. Dealers get better pricing at these auctions because they don't have to deal with the general public, or the consumer. It should not be used for dealer use on the public. Also the DOC fees. It is added to the sale of a car and is pure profit to the dealer, it has nothing to do with documets at all. If you refuse to deal with dealers that use these tactics they will stop using them. I shopped around until I found one and that is where I bought my new car. I saved $2500.00
      kvnsmith
      • 4 Years Ago
      Give me a 71 or older and i will be happy the classics will always be the best built and easiest to work on, they make cars these days more fuel efficient but the repairs have to be done at a shop for even minor problems beacause of the computers and sensors the older models didnt have and the cost is very expensive
      LL
      • 4 Years Ago
      I am new to the internet and a friend of mine told me about this car insurance website: ( http://tinyurl.com/InsuranceTip ) It was so easy to find everything I was looking for, when getting free quotes and comparing prices. I saved over 380.00 dollars on my families car insurance costs. My neighbor is an insurance agent and he was amazed at the deal I found.
      richperry05
      • 4 Years Ago
      this article is b.s. let me ask anyone i mean anybody where is the guy,place phone number from someone at kelly blue book. they are so wrong with there numbers its not funny. they should be brought up on charges of false information....if mr kelly is out there give me your number and address so we can come over to your house-place of business and have you write a check for what you say any car/truck is worth----------IM WAITING
        debsully69
        • 4 Years Ago
        @richperry05
        Yeah and another thing,low mileage used to be around 30,000mi. Now they're saying it's 100,000mi. What a load of BS
          • 4 Years Ago
          @debsully69
          low mileage goes by the year and make of the vehicle. and 100k is not low miles for any vehicle. Thats just stupid.
      Barleyboy
      • 4 Years Ago
      Screw the local Chrysler dealer in Springfield, Mass., for them to work on a Chrysler they want $150.00 per hour for tech time and $120.00 per hour mechanic's time. I have bought three cars at this dealership over the past 12 years but never again. What do the other dealers charge?
      • 4 Years Ago
      Smart Guys!!!!
      • 4 Years Ago
      When buying or selling a car you should always try to eliminate the middle man - the dealer. The dealersips are a business to make a profit and that will be at your expence. I have bought many cars through dealerships, some new and some used. Never again, there is no need with Autotrader, Craigs lists etc.. The problem is some people don't have the cash to buy from an individual. Most times even though you get a loan from a bank they will only fincance a percentage of the blue book. The bank wants to make sure there is equity in the car - afterall they own it. A person often needs to come up with the cash to pay the difference in the selling price and what was financed, and don't forget the sales tax when you register the vehicle. If you can afford to buy off an individual it is a know brainer - a little more work is worth the thousands in savings.
      • 2 Years Ago
      value of 1994 mustang convert 47,000 miles excellent cond.
      LL
      • 4 Years Ago
      I buy almost everything except food and clothing from online auctions. A bidding fee auction, also called a penny auction, is a type of auction in which participants must pay a non-refundable fee to place a small incremental bid. When time expires, the last participant to have placed a bid wins the item and also pays the final bid price, which is usually significantly lower than the retail price of the item. Discounts of 50% to 95% are not uncommon. Most people aren't aware of the almost unbelievable deals that they can get from online auction sites. The site that has the best deals is ( HTtp://tinyurl.com/AuctionDeals ) and I checked with the Better Business Bureau and was told that it is all legit. How they can sell gift cards, laptops, cameras, and all kinds of goodies that we all want for 50-90% off, I don't know. I do know that I bought my son an iPad there for less than $100 and my husband a $250 Loews gift cards for $48. Why would I even think about shopping anyplace else?
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