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You need to be ready to dig deeper in your pocketbook if you’re looking to buy a new or used car. Prices are significantly higher than a year ago.

Many people are saying it’s time to be out with the old and in with the new. That includes a new used car, which in return is creating a shortage. Like many people WAAY 31 spoke with, Ari Hallmark was struggling to find a new car she could trade her old one in for.

Used cars cost about 40% more in 2021

“I was kind of to the point where I was like, do I just pre-order a car and wait like 6 months for it to come in? Or should I just wait for a good used car,” Hallmark questioned.

Hallmark got a 2014 Toyota 4 Runner when she turned 16 a few months ago. Since then, she’s been searching for a new reliable car to trade her 4 Runner in for.

The Century dealerships Pre-Owned Sales Director, Parker Jones, said she can get the most money for her old car right now.

“If you are in the market for selling your car, now is a really, really good time,” said Jones. “Dealers are offering very, very aggressive numbers out there.”

Jones said it’s because dealerships are seeing more people wanting used cars now.

They’re about 40% more than they were in 2020, and some used cars are only a couple thousand dollars cheaper than a brand new car.

“Get online, try to find the best deal, best value out there, but my advice is to move quickly because we’re, right now, turning cars quicker than we ever have before just because there’s a limited selection out there,” Jones advised.

Hallmark did just that.

She was able to trade in her 4 Runner for a 2021 Volvo.

“I was like, now is the best time and I really got the best deal that I possibly could from Century and my trade-in,” said Hallmark.

Jones told WAAY 31 he believes there won’t be a car shortage by the beginning of 2022.