If you’ve taken your car to the dealership lately, chances are you may have heard the question, "would you like to sell?"

Father and son team Marty and Marty Pecoraro break down why it’s now a car seller’s dream. 

"The biggest thing I’ve noticed is the price increase of cars," says Pecoraro Sr. "My title clerk is constantly calling me, telling me, 'we bought this car two years ago and, believe it or not, we’re paying more for it in trade in today than we did two years ago.' That was unheard of. Anybody who bought a car, new or used, always depreciated over time, never went up."

According to dealers around the United States, the value of used vehicles has broken records in 2021 with inflation up to 24%. 

Used vehicles are so in demand because of global chip shortages due to the COVID-19 pandemic. These shortages are negatively impacting the construction of new cars. 

"You can’t get a vehicle when you go to the new car stores. And if you order one, they tell you, 'it could be six months, could be a year. We don’t know when we’ll get one.' People don’t want to wait that long, so they’re ready to make the purchases now," adds Pecoraro Jr. 

Consumer Reports says that Toyota estimates building 60,000 to 80,000 fewer vehicles in October. Some analysts are even predicting a production shortfall of nearly 8 million vehicles by 2022.

Pecoraro Sr. says that he has been in business for more than four decades and all of the connections that he has built over the years have really bolstered his sales during this time.