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Used Car Trade-in Values Expected to Increase in June

2009 Chrysler PT Cruiser

If you’re planning on trading in your used vehicle for a new car or different used vehicle soon, you may want to wait until June. The National Automobile Dealers Association says that compared to June 2010, trade-in values of small cars are predicted to increase more than 30 percent in June.

"Strong consumer demand for small used cars is driving up prices," says Jonathan Banks, senior analyst with the NADA Used Car Guide, in a statement. "The NADA Guide increase in trade-in values for June should come as no surprise because it reflects a shortage of both new and used cars entering the market."

May 2011 vs. June 2011 NADA Trade-In Values

Vehicle

May 2011 Value

June 2011 Value

June Increase

Percent Increase

2009 Kia Rio

$6,400

$7,500

$1,100

17%

2007 Hyundai Accent Hatchback GS

$5,125

$6,000

$875

17%

2007 Toyota Prius

$13,400

$15,350

$1,950

15%

2009 Ford Focus S

$9,375

$10,700

$1,325

14%

2005 Subaru Impreza RS

$6,650

$7,575

$925

14%

2010 Honda Civic Coupe DX

$12,300

$14,075

$1,775

14%

2009 Chevy Cobalt

$7,450

$8,550

$1,100

15%

2009 Chrysler PT Cruiser

$9,225

$10,350

$1,125

12%

NADA’s Used Car Guide also reports that trade-in values for small cars are up 18 percent through the first half of the year. Dealers are paying an average of $11,660 for a used vehicle, which is an increase of almost 30 percent since December 2008, the Associated Press reports.

Because used car values are up, sometimes it can be cheaper to buy a new car compared to the same used car.

"Fewer new cars have been produced as a result of the crisis in Japan, which has shifted consumer demand to the used car market," Banks says. "High gasoline prices are also increasing the demand for both new and used small cars."

If you own a small car and need to upgrade to something bigger or newer, waiting until June could help you get more for your trade.

Looking for an affordable small car? Check out the U.S. News rankings of this year's best cars. Then, look for a great deal on a new car by checking out this month’s best car deals. Also, be sure to follow us on Twitter.

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