Yesterday I spoke with a car dealer about how car sales are going. Of course she said they are terrible. We discussed hybrids and smaller cars and how those are the only things that sell right now. She said if you’re trying to sell or trade in an SUV, mini-van or large truck, you’re not gonna get much for it. With gas prices, nobody wants to drive around a gas guzzler.
I personally never understood the need for an SUV or mini-van unless you have a job that requires it. You can fit 3 kids the the back of a Toyota Corolla just fine. Why do you need all the extra space just because you have kids?
If you have a smaller car though, you’re in luck. The values are as high as ever. I experienced this first hand when I sold my old 1998 Chevy Cavalier. The thing had a dent in the side, air conditioning was out, and over 130,000 miles on it. The dealership bought it from me for $1,200. I didn’t even expect to get $500 for the thing.