If you have a car with only a few years on it, now might be a good time to sell it and buy a brand new car writes Kathleen Pender:

• Since 2007 the average trade in value of a 6 year old car has risen 33%.
• Usually experts recommend buying cars that are 2-3 years old because that way you avoid paying for the years when the car depreciates the fastest, and you still end up with a fairly new car with the latest advancements.
• Now however it might be more cost effective to buy a new car than a used car. In some cases the monthly payments are actually lower on a new car.
• Part of the reason for this is that during the depths of the recession few people bought new cars – which means the supply of cars that only have a few years on them is low.

Read more about some examples of the cars available, and why we’ve likely hit a plateau over here.

Source: SFGate

Via: Newmark’s Door