August 17, 2022

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ONGOING INVENTORY CHALLENGES CREATE PRIME OPPORTUNITY TO MAXIMIZE USED CARS’ RESALE VALUE

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Recent Vehicles.com Surveys Conclude: In Present Seller’s Current market, Most Motor vehicle Trade-In Payouts Exceed Anticipations by Thousands of Pounds for Customers

CHICAGO, May possibly 16, 2022 /PRNewswire/ — Automobiles.com™ (NYSE: Cars), the car-shopping market, today produced results from a survey of customers and auto dealers with regards to growing vehicle resale values amid ongoing stock issues. An frustrating 99% of surveyed dealers mentioned they are spending extra for trade-ins now than two many years ago pretty much 60% estimate an enhanced payout amongst 11% and 20%, and far more than 1 in 3 sellers report having to pay more than 20% a lot more than two many years ago.1

Customer experiences assist the supplier findings. Among the individuals surveyed who traded in a auto in the previous calendar year, around two-thirds acquired a higher offer than predicted. Sixty-three per cent of shoppers cited earlier mentioned-expectation values for mass-sector products and 59% for luxurious makes.2

What the Details Claims

In accordance to wholesale details from Accu-Trade, a Automobiles.com Inc. company, individuals can achieve the best resale value on cars that are electric or hybrid, very best sellers in the current market, from attractive makers, sporty vehicles just in time for summer time and, curiously, full-dimension vans. Some of the most valuable utilised motor vehicles for resale suitable now consist of the 2018-21 model yrs of the next vehicles³:

Individuals seeking to increase the return on their present vehicle in this financially rewarding marketplace can provide properly to other persons for no cost on Autos.com/offer or use its marketplace-top marketplace to hook up with and promote directly to virtually 20,000 sellers across the region. Individuals really should verify with their neighborhood dealership to obtain out which vehicles are most valuable in their regional sector.

“The ongoing stock scarcity has triggered a broad ripple effect in market place problems. As new automobiles became extra elusive, customers pivoted to the applied-automobile market, pushing used-motor vehicle selling prices up 37% in the initially quarter,” explained Jenni Newman, Cars.com editor-in-chief. “Eager for good quality stock, sellers are building profitable offers for common vehicles taken care of in superior issue with small mileage. I sold just one of my family’s more vehicles to our regional dealership just as utilised-car costs have been rising, making 50% more on its sale than I would have ahead of the pandemic. Nowadays, I am thinking of marketing our next family car or truck to capitalize on the substantial utilised-vehicle costs.”

By means of its acquisition of Accu-Trade, Cars and trucks will proceed including features that aid speedy and quick on the internet consumer-to-consumer and shopper-to-dealer car sales, together with immediate give capabilities in the close to foreseeable future. The equipment develop a seamless, reputable and digital expertise for non-public sellers to safely and securely trade in their automobiles to neighborhood dealerships.

Cars.com has a decades-extended background of offering robust instructional methods for car or truck buying customers, which includes guidance on the pros and negatives of personal sale, dealer sale and dealer trade-in. For far more data about marketing or investing in a car or truck, check out Cars.com/provide.

1Cars and trucks.com dealer panel study, April 18, 2022, 163 responses
2Cars and trucks.com shopper survey, April 11-14, 2022, 2,974 responses
³Accu-Trade inner information, April vs. March 2022

ABOUT Cars and trucks.COM
Cars and trucks is the primary automotive marketplace platform that presents a strong set of digital alternatives that hook up auto purchasers with sellers. Introduced in 1998 with the flagship marketplace Cars.com and headquartered in Chicago, the Enterprise empowers consumers with the information, sources and digital applications desired to make educated getting decisions and seamlessly link with automotive stores. In a swiftly transforming market place, Automobiles enables dealerships and OEMs with modern complex options and facts-driven intelligence to much better attain and influence ready-to-purchase consumers, enhance stock transform and obtain industry share.

In addition to Autos.com, Automobiles brand names incorporate Vendor Encourage, a technological innovation supplier building alternatives that long term-evidence dealerships with far more efficient functions and connected digital encounters Gas, which gives sellers and OEMs the chance to harness the untapped power of electronic online video by leveraging Cars.com’s pure audience of in-sector motor vehicle consumers DealerRater, a major automobile vendor evaluation and track record management system automotive fintech platform CreditIQ and Accu-Trade a motor vehicle valuation and appraisal know-how.

The total suite of Cars properties involves Cars.com™, Dealer Encourage®, FUEL™, DealerRater®, CreditIQ™, Accu-Trade.com™, Automobile.com™, PickupTrucks.com™ and NewCars.com®. For much more facts, visit www.Cars and trucks.com.

Cars.com logo (PRNewsfoto/Cars.com)

Cision View unique content to obtain multimedia:https://www.prnewswire.com/news-releases/ongoing-stock-problems-produce-prime-opportunity-to-maximize-utilised-cars and trucks-resale-price-301547587.html

Resource Autos.com Inc.

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