Yes, Your Car Is Still Worth More Than Ever!

Market Factors

The chip shortage is still wreaking havoc on the automotive industry. This supply shortage alone is what experts say is the main culprit behind the current tightness in the new car market and has dramatically increased the demand for used cars. Manufacturers plan to cut production as much as 40% in the month of September. Overall, the global auto industry will produce almost 4 million fewer vehicles than planned. Reduced new vehicle inventory means buyers are flooding the used vehicle market and demand remains through the roof. That translates to good news for you if you want to trade your vehicle or sell it to us outright.

Seller’s Market

The average price for a used vehicle has jumped more than 21% to about $25,400 from $20,900 a year ago.  Even vehicles with higher mileage are worth more than you might think! The average amount paid for vehicles with mileage between 100,000 and 109,999 rose over the past year by 31% to $16,489. You are more likely to find yourself in a position of equity with your vehicle this year than any other year that you may own your car. So what’s an owner to do? Considering selling or trading NOW.

How Should I Sell or Trade My Vehicle?

Our customers find the process of selling or trading their vehicle at Mercedes-Benz of Owings Mills a fast, easy and pleasant experience. Our trained experts are able to appraise your vehicle and make you an offer on the spot. We are frequently monitoring the market to ensure we are extending the best offer compared to our competitors. No appointment is necessary to get an appraisal, but it is encouraged to expedite the process. So feel free to stop by, or use the form below to schedule a quick and easy appraisal.