Some people believe that, if they trade in their older vehicle for a new car, they can get a great deal. But any chance for these prospective new car buyers to get the price they want may be slim to none. These are a few things to watch out for before thinking about turning in your clunker to a dealer:
A recent article from Curbed debated findings from The New York Times that New York City saw a surge in vehicle registrations, called the “Vroom Boom,” as more city dwellers saw an opportunity to have their own form of transportation. However, Curbed argued those figures may be greatly exaggerated, as the “Vroom Boom” wasn’t the big bang it was made out to be.
Today, people are driving less because they are either working from home, or they have been furloughed or laid off. This means fewer trips to the gas station, even though gas prices have dropped precipitously since the pandemic. But if people are not driving as often, they may be damaging their cars without even knowing it.