Did You Know Your Old Car's Worth Has Increased As A Result Of The Pandemic?

By Author: Omega Cash for Cars
Total Articles: 10
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If you have an old car that’s still in fairly good shape, now is actually the best time to sell it and make good cash. Because of the COVID-19 pandemic, many people have become cautious and are trying their best to do social distancing. An interesting trend that came out of this is that more people now want to drive their own vehicles and avoid taking public transportation. But because new cars tend to be costly and there’s a delay in manufacturing brand new vehicles, more consumers are turning to used cars. By choosing old car removal, you could contribute to filling in the increasing demand for used vehicles in the market.

Something Good About The Pandemic

The pandemic may have caused a lot of suffering and pain around the world, but somehow, it led to a boom in the buy and sell of used cars. Many vehicle manufacturers are experiencing delays in production because of shortage of semiconductors. After all, business closures and limited manpower have limited production for such crucial car parts. It resulted in a lack of new vehicles coming in from auto plants to their official dealers. By April and May 2020, ...
... consumers who are cautious about going out and spending on big ticket items have significantly turned to used cars.

The practice of buying used cars has kept old car removal companies and used car dealerships busy for the rest of 2020 and even throughout 2021. Used car dealers experienced higher rates of inventory turnover throughout the period as they were selling more cars now compared to the pre-pandemic days.

The Downside Of The Pandemic

Used car dealerships may have enjoyed the increased sales for quite some time, but because more people are buying their products, it ended up in a significant shortage of inventory. Despite the high demand, they are unable to consistently keep sufficient stocks of the products they sell. So, if you have an old car, someone might be willing to buy it, and it’s worth is likely to be higher now because of demand.

Why Sell Your Old Car Now?

If you’ve been putting off old car removal for months, here is your cue to make an important decision. Used cars are already in low supply, which resulted in higher prices. So, if there is an old extra car that you want to sell, there may never be another great time than now to do it.
What’s Causing The Low Supply Of Used Cars?

The COVID-19 pandemic greatly affected the rental car industry. Most rental car businesses sell their vehicles when they have reached about 12 to 18 months in age. That makes them a great source for used vehicles. However, lockdowns, border closures, and health and safety protocols limiting or restricting travel took a great toll on those companies. So, car rental businesses ended up selling huge amounts of their fleets prematurely without purchasing replacements. It’s also for that reason why car rental during the pandemic is more expensive.

According to a vice president at the National Independent Automobile Dealers Association, Larry Dixon, rental fleet sales has decreased by 50 percent in 2020. That means that 12 to 18 months later, the supply that goes into the used car market would decrease by the same amount, too. He is expecting the numbers to worsen as the year progresses.

The High Demand For Used Cars

Another important reason for the shortage of used cars is the high demand. Many people were slow to purchase new cars throughout most of the pandemic. But as vaccination rates increase and lockdowns and restrictions ease up, there are changes in their buying behaviour. A lot of people are excited to leave home, travel, or go back to work, too, but they want to do those things safely and distanced from others. They want to drive, and that means a high demand for cars.

But with the shortage of new cars and with restrictions on their budgets, those people are turning to used cars. Vehicle production slowed down because of the continuing shortage of semiconductors globally.

Banks are also delaying car payments, so few used cars are going into the market because of repossessions. Moreover, consumers are trading in their used vehicles at a reduced pace or thinking twice about old car removal.
Used Car Prices Continue To Rise

Experts are expecting the prices of used cars to continue rising in the upcoming months. So, if you want to sell your old car, now is really the best time to do that. You might be able to help another person or another family stay safe when they’re able to buy your new car from a reputable car removal company.

Are You Selling An Old Car To Buy A New One?

Selling your old or unwanted car to a vehicle removal company is likely to earn you more cash than usual. However, if you want to buy a replacement, then you might need to be extra patient. Remember that there’s a shortage of new and used vehicles.

But if you have multiple cars and there’s one or two that you could do without, old car removal could promise top dollar for those vehicles, as long as you sell to the right company. You should definitely consider selling your old extra car if you spend much of your time working remotely and you have another vehicle to use when you need to go out. Your car could fetch up to $9,000 and possibly more in this current market!

Sell To The Best Old Car Buyer

Omega Cash for Cars is an old car removal company that guarantees the best prices when you call 0401 234 711. We’re encouraging you to let go of any old, unwanted car that you have and turn it into cash. We buy all kinds of old cars no matter the make, model, or year, with free towing and help with the paperwork. This way, we’re confident that we can provide the best possible services every time.

What are you waiting for? Call us or fill out the online form to get an estimate, and if you like our cash offer, you can arrange for us to pick up your car right away.

Omega Cash for Cars is a licensed car removal and wrecker company in Sydney that promises to offer you the best instant cash value. Yasin Azimi, the Chief Operations Manager at Omega Cash for Cars is having years of expertise in this industry. He provides a wide range of "Cash for Cars", "Car Removal", "Eco-friendly Disposal", and "Free Towing" services to his customers. This company is known as the best car removal service provider in Sydney that pays you the best value for your unwanted car. Yasin Azimi and his team of experts buy cars reasonably & efficiently by offering free car removal and towing services. In addition, he provides you with the best deals that you won't find at any other vehicle removal company!