Time to Trade-in a Perfectly Good Car?

Ever wonder what will spark the next trend in automobile sales? Like being ahead of the crowd? Trading up to a nicer used car or truck before old faithful becomes junk is catching on. Manheim economist Tom Webb says the world’s largest provider of vehicle remarketing services believes that used-vehicle retail sales will hit an all-time high before 2015. While sales of new cars and light-duty trucks leveled off, used car sales climbed by double digits during the first quarter of 2013. Furthermore, the used car market strengthens while other consumer sectors sag, despite significant consumer obstacles like tax refund delays, a rise in payroll taxes and spikes in gas prices. Solid vehicle residuals and the exceptional performance of used-car loan portfolios are driving favorable lease and credit terms. Give it a look.

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