Pre-owned car values in high gear

Greg Brown, used car manager at Fiesta Ford, says the car business is the best it has been since 2007. But, dealers need you to drive up their used car inventory.

“I’m aggressively buying used cars all the time at auction, off the streets, through trade-ins and I’m paying more for used cars now than I ever have so the benefit is to the consumer,” explained Brown.

He says the reason for this is the decrease in new cars sold during the recession.

Joe Maldonado shopped for a used car Tuesday at the dealership.

“I get a little bit of a price reduction but then you got to find the right color like this one here is perfect but it’s white I need something in black,” said Maldonado.

Brown tells us he’s hard at work to bring in as many used cars as possible.

“There is a short supply of used cars and we’re trying to increase the supply,” said Brown.

The Fiesta Ford lot is home to 350 new vehicles and 100 used vehicles. As more new cars are sold, additional used vehicles will be sold as well.

“It’s a supply and demand and as new sales increase there’s going to be in the next 18 to 24 months where that supply is going to catch up so if you have a pre-owned car and you’re looking to trade or sell it I would do it now while the market is still up,” said Brown.

For those not quite ready to purchase a new car, Brown has some advise to ensure you get top dollar when you do decide to trade in your old car.

“You should always maintain your car well, do the oil changes, rotate balance the tires all the factory recommended maintenance should be done,” he added.

It is not uncommon for people to trade in their leased vehicles early either. That is another method dealers use to increase their used car inventory.