Home > Departments > News & Updates

Upcoming Events: Seminar Schedule

An F&I Manager's Guide to Compliance
Thursday, December 13, 2018 - 9am-12pm
9150 S. Hills Blvd. Broadview Heights, OH 44147
Members: $60/Person Non-Members: $120/Person
HAZCOM Training for Dealership Employees
Tuesday, November 13, 2018 - 5:30pm-8:30pm
9150 South Hills Blvd., Broadview Hts., OH 44147
SAFE-$0; Member-$35 p/p; Non Member-$55 p/p
Professional Automotive Sales Training - The Road to a Sale
Tuesday, November 06, 2018 - 8:30am-4:00pm
9150 S. Hills Blvd. Broadview Heights, OH 44147
Members: $195/Person Non-Members: $250/person
HAZMAT Training, Testing & Certification - NEW LOCATION!
Wednesday, October 24, 2018 - 1:30pm-4:30pm
9150 South Hills Blvd., Broadview Heights, 44147
SAFE-$0; Member-$35 p/p; Non Member-$55 p/p
HAZCOM Training for Dealership Employees
Tuesday, September 11, 2018 - 5:30pm-8:30pm
GCADA Training Center
SAFE-$0; Member-$35 p/p; Non Member-$55 p/p

News & Updates

News Release: Vehicle Trade-in Values at All Time High
June 03, 2011

News Release: Vehicle Trade-in Values at All Time High

 

 
FOR IMMEDIATE RELEASE
 
MEDIA CONTACT:
Sara Panza
Greater Cleveland Automobile Dealers’ Association
440.746.1500
 
 
Vehicle trade-in values at all time high
 
Cleveland, OH (June 3, 2011)-- Trade-in values for used vehicles have reached an all time high this month, thanks to a combination of factors that all came together at the same time to create a unique opportunity for consumers. Used car prices are currently the highest they have been in at least 16 years.
 
“Right now, good used vehicles are in very strong demand,” says Louis A. Vitantonio, President of the Greater Cleveland Automobile Dealers’ Association. “That helps the consumer in a number of ways. First, they can expect to get a lot more for their trade-in, especially if it’s a low mileage, late model used vehicle that has been well maintained. Secondly, the rising value of used vehicles has also pushed up the residual value of new vehicles, leading to lower monthly lease payments in the market right now.”
 
Dealers across Northeast Ohio are reporting that some used vehicles are worth from $1,000 to $1,500 more than they were just a few months ago. The National Automobile Dealers Association’s NADA Used Car Guide, an authoritative book used by many dealers to help establish trade-in values, has raised its average suggested prices for used small cars by 18 percent through the first six months of 2011.
 
Several factors have all come together to create this once-in-a-lifetime opportunity. The recession of 2008/2009 saw a dramatic dip in new vehicle sales, so there are simply not as many late-model, low mileage used vehicles on the market today. At the same time, the average age of a used car on the road is now 10.6 years old, compared with 9.8 years old in just 2007. That means more people are in the market for a vehicle today, whether they are buying a new or used vehicle. In addition, the Cash for Clunkers program, while getting a lot of less fuel-efficient vehicles off the road, also resulted in fewer used cars in the marketplace.
 
“It’s really just the basic law of economics,” Vitantonio adds. “Stronger demand, coupled with tighter supplies, means a better value for your trade-in. Consumers who are considering the purchase of a new vehicle this year would be well advised to take advantage of the situation. It really is a great time to buy.”
 
About the GCADA  
The Greater Cleveland Automobile Dealers' Association (GCADA) has served the retail-automobile industry and community with integrity and distinction since 1903. Today, located in Brecksville, Ohio, GCADA represents 240 franchised motor vehicle dealers, which includes new-car, truck, motorcycle and RV dealers in a 21-county region of northern Ohio along the Lake Erie shore and beyond.  More information on the GCADA can be found at www.gcada.org.
 
# # #
 
 
 
If you no longer wish to receive email advertisements from GCADA, please call 440-746-1500, send a fax to 440-746-1504, or send an email to gcada@gcada.org and provide the following information so we can process your request: your name, the name of your company (if applicable), your email address(es), and that you do not wish to receive email advertisements from GCADA. We must process your request within 10 days.  GCADA is located at 10100 Brecksville Road, Brecksville, Ohio 44141.
<< Back