Nobody wants their car purchase to be worth a lot less than when they bought it. It’s a scary thought you might lose money when you go to trade your vehicle for a new car. Although recently, due to supply issues, many trade-ins are increasing in value. It might also be tempting to sell your extra vehicle and cash in on the resale value. Hold on, though, because if you have one of these 2018-2021 cars, you might get even more than you thought. Here is a list of the cars with the highest percentage of increasing resale and trade-in value.
Tesla Model 3: 12%
The Tesla Model 3 is the electric car starting point for folks looking to own a Tesla. Although it is less expensive than a Model S or Model X, it has a great resale and trade value. Furthermore, shoppers find that the Model 3 will net them 12% more in a trade-in than in 2019.
Kia Optima: 12%
Kia’s family sedan offers accessible comfort and variety in its many trim levels. It also provides its current owners a choice: cash in or hold on? The Kia Optima currently ties the Tesla Model 3’s impressive 12% increase in trade-in value.
Toyota Corolla: 9%
The Toyota Corolla is a wildly popular car, famous for its reliability and ubiquitousness. Corolla owners can rest easy knowing their vehicle is more than just dependable; it’s valuable. A shrewd shopper could net as much as a 9% increase in trade-in value over two years ago.
Honda Civic: 8%
The Honda Civic is another example of one of North America’s favorite cars. Like the Corolla, owners can revel in the fact that the Civic is a gift that keeps on giving. With an estimated 8% increase now over 2019, shoppers might consider cashing in on that resale and trade value.
Toyota Camry: 8%
Toyota’s popular four-door sedan is a hot commodity. The Camry is available with a powerful V6 engine or a fuel-sipping hybrid system. Additionally, the Toyota Camry will make you more money than some competitors when you trade it in.
Honda Accord: 7%
With a 7% increase in trade-in value, the Honda Accord isn’t entirely on par with Toyota Camry. That isn’t, however, a terrible thing. Getting 7% over what you would have in 2019 might be enough to make you consider trading in.
Dodge Charger: 6%
Dodge’s beloved four-door muscle car holds its resale and trade value well. After all, it is the only muscle car of its kind, and in a time when big, thirsty V8s might be disappearing. If you can bring yourself to part with it, your Charger will likely be worth 6% more than it would have in 2019.
Dodge Challenger: 5%
The yacht holds its value. Although it is at the bottom of this list, any gains in value are welcome. So if you decide to bring your boat back to the dealer, expect to get a bit more on trade value.
Should you trade-in your car?
Before you trade it in, think about whether or not you can do without your car. According to Cars.com, buying a replacement car in a seller’s market is going to cost you a lot of money. So if you have an extra vehicle you want to cash in on, now is the time! Scroll down to read more about some cheap, fast cars to buy with that trade-in money.