Trade-in Value of SUVs is Crashing
Tagged Under : SUVs, trade-in, value
Last week, we told you that a glut of SUVs on used car lots had led to low prices, making this a great time to buy a recent used sport utility or truck, if you have the need. Throughout the weekend, media reports have focused on the other side of that coin.
If you own an SUV, it’s probably losing value.
Gas prices rising steadily toward $4 a gallon have driven million of consumers to buy smaller cars this year. When they buy that small or midsize sedan, a tremendous number have used an SUV as a trade-in — leading to a glut of SUVs sitting on used car dealer lots this spring.