Thinking about trading in your old car for a new one? it turns out that now may be the time to make that move.
Experts say this seller's market won't last much longer. During the recession people held on to their used cars, so the inventory was low and the average sales price was inflated.
But now, as the economy is recovering, people are getting rid of their old cars and inventory is going up. The National Automobile Dealers Association predicts used car prices are about to go down for the first time in five years.
If you decide to sell your car, experts say you will get the best bang for your buck by selling it yourself. You should be able to get 10% - 15% more than if you trade it in at a dealership.
And because supply is going up, experts say you need to be patient. It takes, on average, between six and ten weeks to sell a used car.