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Trending Now - Sell Your Wheels, Now
If you are holding onto that old car of yours, experts say its not going to remain a seller's market for too much longer.
The window to sell your used car at a great price may be slowly closing.
During the recession people held onto their used cars, so the inventory of used cars available for sale 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 says that used car prices are about to see their first decline in five years.
And it says a car's annual depreciation rate will jump from 11-percent in 2009 to 16-percent this year.
Now if you decide to sell your car experts say you will get the best bang for your buck by selling it yourself and not trading it in at a dealership. On average you'll see ten to 15-percent more.
And because supply is going to be rising experts also say you need to be patient. It takes, on average, between six and ten weeks to sell a used car.