Because high gas prices are creating demand for fuel efficient vehicles, a late-model used car with an excellent MPG rating will earn top dollar as a trade in right now.
Lodi, NJ (PRWEB) April 25, 2012
Relying on data provided by the National Automobile Dealer's Association, experts at European Auto Expo predict the trade-in value of late-model used cars will peak in the coming weeks. Because high gas prices are creating demand for fuel efficient vehicles, a late-model used car with an excellent MPG rating will earn top dollar as a trade in right now. European Auto Expo expects many car owners to take advantage of this and trade in cars they may have only bought a couple of years ago. Eventually, when the supply of the late-model trade-ins goes up, their prices will fall and a great opportunity will arise for consumers who want all the bells and whistles that come with a new car, but aren’t willing to pay the new car price.
Another benefit of purchasing a late-model used car is that it will still likely be covered under its factory warranty. Many luxury brands, like those sold by European Auto Expo in Lodi, New Jersey, have excellent factory warranties. For example, all new BMWs have a 4 year or 50,000 mile warranty covering any manufacturing defect or required maintenance. According to BMW’s website, this includes: oil changes, inspection services, new windshield wipers, engine drive belts, and brake services. Because BMW keeps track of the warranty with the car’s VIN, European Auto Expo explains that nothing is required of a new owner to transfer the warranty to their name.
Additionally, some late-model used cars at European Auto Expo are marketed as Certified Pre-Owned vehicles, or CPOs. These vehicles are subject to a variety of tests, refurbished to a “like new” condition, and usually come with warranties on top of whatever factory warranty remains. For example, Mercedes-Benz Certified Pre-Owned vehicles are covered up to 100,000 miles or for a year, beginning either at the time of purchase or after the factory warranty runs out, whichever is later. For additional protection, BMW and Mercedes-Benz also offer extended warranties and upgrades to any current coverage on both new and pre-owned vehicles.