Car trade-in values should remain high in 2013

February 12, 2013 12:00 AM

Drivers looking to change up their rides may find a welcoming market to do just that in 2013. Several factors should keep the value of used vehicles high throughout the year, which may encourage drivers to consider upgrading their cars to newer models. 

"Car buyers will find 2013 another excellent year to trade-in their current vehicles for either new or previously owned cars or trucks," said Jonathan Banks, an auto analyst with the NADA Used Car Guide

A combination of the improving economy and an increased supply of vehicles should help drive interest in buying a used vehicle. If drivers kept up vehicle maintenance and left their cars in good condition, they should be able to command a good price tag for the rides. 

Owners may also be helped by forthcoming tax breaks that affect used car trade-ins. Michigan recently voted to cut the tax people pay when they trade in cars to buy another vehicle, WILX News reports. The new measure received bipartisan support from the state senate, and residents should soon be able to reap the benefits of the lower taxes, which may include more people trying to trade-in their cars. 

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