Looking to buy or trade a used vehicle? Here’s your guide
Aug. 6, 2021
This paid piece is sponsored by Luxury Auto Mall.
In recent weeks, Luxury Auto Mall’s general manager, Mike Chaplin, has received a record number of calls from vehicle owners wondering the same thing.
“They’re looking at their third, fourth or fifth car, one that is sitting around and is low mileage, and they’re calling to ask if we’d be interested in buying it,” he said.
The answer is a quick yes.
“We need them, you have them, we want to talk to you,” Chaplin said. “These owners are paying attention and understand the market is high. Many of them are longtime customers and understand how we do business, so we’ve been fortunate to take in a number of outstanding low-mileage used vehicles.”
But they don’t last. Typically after 90 days on the lot, a Luxury Auto Mall used vehicle would be sold at auction. This year, there’s no need.
“We don’t have any cars that have been here longer than 61 days,” Chaplin said. “There’s incredibly strong demand.”
From students heading to college to buyers looking to change vehicles, buyer interest in used cars is strong, while traditional sources for used cars such as auctions or rentals have dried up.
“And you can trade up for much less than in the past because of this,” Chaplin added. “The value of your trade has gone up, and we still offer our one-low-price guarantee, so we have had a number of customers surprised by how the gap has closed when they trade up.”
And just because there’s “luxury” in the name, when it comes to used vehicles, Luxury Auto Mall offers a much bigger selection.
Don’t assume luxury brands are all we carry,” Chaplin said. “I’ve never had more trucks on the lot than I do now. I don’t know why, but we’ve taken in a large number of them, and we see a huge opportunity in a market we’ve never really dabbled into.”
If you’re in the market for a used car, make sure you get connected with a Luxury Auto Mall associate, he added.
“It’s a very good parallel to the housing market,” he said. “If you weren’t going to build new, you’d want a real estate agent who knows the market well enough to know who might be willing to sell you the house you want. It’s the same with vehicles. Our associates will work directly with you to help scout and source and connect you with what you’re looking for as soon as we have a match.”
“We have great partners,” Chaplin said. “They might not be in our backyard, but we can access their inventory and arrange transportation of the vehicle to Sioux Falls from within our network.”
Classic cars are coming in too – and going out fast.
“Don’t store them if you don’t really want to keep them,” Chaplin said. “If you have extra cars, this is the height of the market. In 68 years, it’s the highest premium for used cars. So seize that opportunity.”
