Is Now a Good Time to Sell my Kia near Rio Rancho, NM?

If 2020 was a bad year for you, as it was for a lot of us, 2021 is proving to be not so great either. That is, at least when it comes to purchasing your next car, truck, or SUV. Due to record unavailability of new vehicles, some used cars are selling for higher prices than the same new corresponding car. Yes, you read that right! And yes, it's gotten many of us wondering, "Should I sell my Kia near Rio Rancho, NM?"

Last year, right before quarantining and lockdowns began, the average used car cost about 30% less than it did in the spring of this year. And prices for used vehicles have increased nearly 2% each week, according to Cox Automotive, which keeps track of more than six million autos a year at dealer-only, wholesale auctions. 

Here's a quick example: Based on information from TrueCar, a new 2021 Kia Soul LX was listed with a $17,724 price tag this past April. Nevertheless, a 2020 Soul LX model with the same options and the same color sold for $18,500 at the world's largest wholesale auction company (Manheim Auctions). Say what? That was even with 5,000 miles on it and what the auctioneer called "contaminated oil!"

For About How Much Can I Sell my Kia near Rio Rancho, NM?

So as you can see, supply and demand are creating a seller's dream. If there's an extra car in your driveway or garage that you don't need, there's never been a better time to sell it. Even if it's an unpopular model or damaged, you can still get a top price for it. At the same auction, a 2017 Hyundai Accent with a bad transmission and almost 75,000 miles on it sold for $8,000 compared to a $5,700 wholesale average!

In a typical year, how much you can get for your car relies on several factors. Make and model are usually the most important since some brands and types are in higher demand than others. Not this year. Thanks to the pandemic and its effects, everything is fair game, but we like Kias best!

Another aspect of your Kia's value is its age and how many miles are on the odometer. Again, in a typical year, the older it is and the higher the miles, the lower its value. However, 2021 is proving to be anything but a typical year in the automotive industry, so you may be surprised.

Your car's condition is also equally important in determining its value. Slight scratches, dings, and scuff marks will lower its worth because we'll need to fix those before we can sell it. If you want the most money you can get for the vehicle, you should correct any minor flaws or bumps, which mar its appearance.

Additionally, the car's service history will affect how much you'll get for it. If you've kept up with its yearly maintenance within its set mileage, it will be worth more than one that has missed some servicing. 

Finally, how many owners has your car had? The fewer owners, the better price you'll get. If you're the first and only owner, you'll get the best price. Even if you're the second or third owner, you can still get a reasonable price if the service records are complete and the vehicle is in decent shape.

In Conclusion

If you've been having thoughts like "It's time to sell my Kia near Rio Rancho, NM", there's never been a better time as a seller. Come over to Fiesta Kia at 7400 Lomas Blvd in Albuquerque to discover how to put some cash into your pocket while increasing our used car inventory.