buying: Best used cars to trade in for the most cash

Chevy Corvette remained fastest-selling car in March, Toyota RAV4 Prime not far behind

  Chevy Corvette remained fastest-selling car in March, Toyota RAV4 Prime not far behind The Corvette's inventory likely remains in short supply, and ditto for the RAV4 Prime.Still, according to new data from iSeeCars on Wednesday covering the month of March, a Corvette only stuck around at a dealership for 9.4 days on average. The average time to sell a vehicle sits at 47.4 days for all new vehicles, underscoring how quickly a Corvette in stock turns into a sale. While General Motors works to build the sports car as quickly as possible for eager fans, the second-place finisher is pretty surprising.

Used cars fetch a premium these days, as automakers struggle to meet demand for new vehicles. It's the one upside for car buyers as they see dealerships pay a whole lot more for their trade-ins compared to this time last year. However, a new study from iSeeCars identifies a group of vehicles that hold much more value than the average vehicle trade-in.

a car parked on the side of a road: The market's hot for Corvettes right now. Chevrolet © Provided by Roadshow The market's hot for Corvettes right now. Chevrolet

By looking at the used cars with the greatest price increases, the website notes owners will inevitably receive a higher trade-in value so dealers can stock them and sell them for the higher prices. If you own one, you're sitting in a pretty great spot if you want to sell it. Keep in mind, the vehicles listed come from the 2016-2020 model years and are ranked by the percentage not absolute price increase. Older vehicles aren't included in the averages.

Used Car Shoppers Might Find the Best Deals over 100,000 Miles

  Used Car Shoppers Might Find the Best Deals over 100,000 Miles With used-car prices up an average of 14 percent this year, it's good to keep in mind that cars last a lot longer these days.By July, used-car values found their legs. And by October, used-car prices had made record-breaking leaps. Now, six months later, prices still hover at altitudes that require supplemental oxygen. CarGurus' tool for tracking used-car price trends shows the average price of a used car is $23,723, up almost 14 percent compared to this time last year. That's more than 10 times the 2020 rate of inflation. Every vehicle segment has seen gains, the smallest bump being about 5 percent for hatchbacks and wagons.

Topping the list is, believe it or not, the Chevrolet Corvette, which also happens to be the fastest-selling new vehicle these days. The average price for a used Corvette increased by over $17,000 in the past year. Owners trading in their 'Vettes will receive a whole lot more cash in return. If Corvette owners also happen to have a bougie two-car solution with a Mercedes-Benz G-Class parked in the garage, they're doubly lucky because it comes in second place. The German brute's average price increased by $37,161 in the past year, which is quite a cushion of equity for owners.

a car parked on the side of a road: 2018 Chevrolet Corvette Stingray Convertible © Chevrolet

2018 Chevrolet Corvette Stingray Convertible

Coming in third is the Ram 1500 ($8,002 more than last year), fourth belongs to the GMC Sierra 1500 ($9,418 more) and the top five ends with the Mercedes-Benz S-Class ($16,198 more). Pickup trucks and sports cars really dominate the list in a big way. For the former, super tight inventory makes used models far more valuable. For the latter, buyers are willing to pay more for a sports car since their ideal combination is likely harder to find. Sports cars are typically aspirational vehicles too, which may be why their values surged after pandemic-related lockdowns eased up.

2011 Toyota Camry: What You Need to Know

  2011 Toyota Camry: What You Need to Know The 2011 Toyota Camry finishes near the top of our midsize car rankings thanks to its outstanding reliability rating, supple ride, and generous amount of cabin space. However, it has below-average safety scores, numb handling, and mundane interior styling. The 2011 Toyota Camry is ranked: #2 in 2011 Affordable Midsize Cars #10 in Used Midsize Cars under $15K Is the 2011 Toyota Camry a Good Used Car? Yes, the 2011 Toyota Camry is a good used car. It isn’t the most athletic or stylish choice in the midsize car class, but it’s a sensible one.

The one real outlier on the list is the humble Mitsubishi Mirage. Prices for these cars increased by $2,313 on average year-over-year. Why? They're inexpensive, and for buyers on a budget, they're attractive options, especially with low miles. Lower miles always equals higher prices. Check out the full list of cars below, but remember, your mileage may vary when it comes time for a used car appraisal. Take this study as more of a big-picture look at the market right now. On average, car buyers trading in their vehicles are receiving 128% more cash, up $3,087 to $5,502.

The best cars to buy used rather than new

This was originally published on Roadshow.

2011 Mercedes-Benz E-Class: What You Need to Know .
The 2011 Mercedes-Benz E-Class has perfect safety scores and an above-average reliability rating. Add to that its range of powerful engines, agile handling, and high-end interior, and it’s easy to see why the E-Class ranks near the top of the luxury midsize class. The 2011 Mercedes-Benz E-Class is ranked: #1 in 2011 Luxury Convertibles #2 in 2011 Luxury Midsize Cars #12 in Used Luxury Midsize Cars under $20K Is the 2011 Mercedes-Benz E-Class a Good Used Car? The 2011 Mercedes-Benz E-Class is an excellent luxury midsize car.

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