Trade-In Value on Used Cars in BC Dropping

After 2 longs years of a worldwide pandemic, the economy is still feeling the effects from it. However, while some things have gone up in price, other things are dropping; things like the trade-in value of used cars.

During a time when car manufacturing was struggling to get resources to continue making vehicles, consumers were at a serious advantage to get the most cash for cars, trucks, SUV’s, vans, and motorcycles. Many people were trading in their older vehicles to get something new and flashy, because with such a demand for used cars, they were getting thousands more for their vehicle.

Things in 2023 are changing fast though in the used car buying market. That’s why there is still some hope to recoup some of your initial investment from when you purchased your car.

High Vehicle Trade-In Values are Gone

If you were on the fence about selling your car or trading it in, you may have missed your window of opportunity. During the pandemic, used vehicles were selling at an all-time high. While some vehicles have still maintained their trade-in value even after the pandemic, others have drastically decreased.

Now that resources are more available and car manufacturers can get what they need to produce vehicles in a timely manner, the need for used cars has plummeted.

That’s why it’s a better option to sell your car to a professional used vehicle buying service like Cash For Cars BC. We offer the MOST cash for used cars, trucks, SUV’s, vans, and motorcycles in the industry.

Plus, if you were thinking of trading in your vehicle, but don’t like the offer made to you at the dealership, Cash For Cars BC is the ideal alternative. We pay much more for vehicles than the dealerships, and you can take our cash payout and put it towards a down payment on the car you’re buying.

Consumers Can Still Get a Decent Value for Certain Vehicles

Overall, many used cars, trucks, SUV’s, and vans were producing top dollar as far as trade-in value goes. Unfortunately, over the past post-pandemic year, many vehicles’ values have dropped by 15%-30%. Previously, during the pandemic, the trade-in value of a vehicle may have been $25,000. However, now the same vehicle’s value could only be $20,000-$21,000.

Not all is lost though when it comes to trading in a vehicle. Some of the vehicles that were commanding a higher price during the pandemic, are still doing that even afterwards. However, there are not a lot of vehicles that are retaining their newly found trade-in value.

The ones making more profit are ironically, the ones with higher mileage. Lower mileage used vehicles aren’t selling very well because you can purchase a new vehicle now for relatively cheap, or even cheaper than the used low mileage cars. This makes selling vehicles with higher mileage a better value for those who are on a really tight budget.

Why We Are a Better Option Than Dealerships?

When you choose to sell your car to a licensed professional like Cash For Cars BC, you’re choosing smart. Why? Because used car buying businesses like us can offer more cash for cars than dealerships like our friends at Destination Mazda, because we know how to find a buyer for exactly what you are selling.

Dealerships also don’t make money on trade-in vehicles. And they’re in the business of making the most profit because they are commission based.

A used car buyer like us focuses on the demand for your vehicle, and makes a purchase based on that. Additionally, this also helps you get the MOST cash for your car when you sell your vehicle to us.

In addition to getting a better payout, you’ve also got the convenience you want when selling a car by choosing us. Instead of spending your weekend bouncing from dealership to dealership, searching for the best price, we come to you! Also, NOBODY Pays More!

What Types of Vehicles Do We Buy?

Since 1998, we’ve been the leading used car buyer for all of Metro Vancouver, the Fraser Valley, and parts of the Island. We buy vehicles from $100-$100,00+, and are always happy to come appraise your vehicle in person.

We Buy:

• Cars – Passenger cars, sedans, station wagons, hybrids, coupes, sports cars, junk cars, supercars
• Trucks – Light weight, heavy duty, diesel, work trucks, 1-ton trucks, 4×4’s
• SUVs – Hybrids, fully electric, crossovers, 4×4’s
• Vans – Work vans, minivans, cargo vans, campervans
• Motorcycles – Sport bikes, cruisers, vintage, imports

We even buy used vehicles that are from out of the province and out of the country. Also, we are always interested in classic and vintage cars, as well as rare finds from around the world.

How Do I Know How Much Cash I Can Get for My Car?

Most people assume that when they sell a car for cash, they’ll be getting a payout based on the condition of the vehicle, and how many kilometres it has on it. However, this isn’t always the case. When it comes to buying a used car, truck, SUV, van, or motorcycle, it’s not all about the mileage and condition for us.

Every vehicle is different. They have different histories, different features, and different purposes. An older car can have high mileage, but can have a huge fan base of people looking to buy one. A newer car can be in excellent condition, but be known for having a lot of engine problems or recalls.

That’s why it’s important for us to see your car in person. We can give you an idea of what you’re looking at over the phone, but unless it’s a scrap car, we’d want to do an in-person assessment.

The good news is that we offer these 7 days a week, day and night. Not only that, but we also provide them on many statutory holidays too! We are all about being flexible and making selling a car quick, easy, and completely painless.

Sell Your Car to Cash For Cars BC Today!

All it takes is a simple call, text, email, or request through our “Request A Quote” form on our website to get the ball rolling.

First, we’ll get some basic preliminary details about the vehicle you’re selling. The make, model, year, and condition. If there’s a demand for your vehicle and we are interested in it, we’ll arrange a date and time for one of our used car buyers to come and do an in-person vehicle appraisal. If they like what they see, they’ll make you an offer right there on the spot.

For all lower priced vehicles, we offer cash payments. For higher priced purchases, we offer you the payment method of your choice.