Have a car you want to sell? There's never been a better time

When factories temporarily closed worldwide last year and computer chips fell in short supply, it led to fewer new vehicles making their way onto dealership lots. Vehicles are in high demand for Americans, and dealerships are finding other ways to restock their inventory - they want your used cars.

Since these dealers can't get as many new cars as they used to, they're offering up large sums of money for used ones. Some of the offers are for more than what a vehicle was worth brand new, particularly if it's between 1-3 years old. It somewhat mirrors the out-of-control real estate market in the U.S., but that's a whole different, frightening topic.

Dealerships need this inventory to sell in order to keep their businesses afloat and employees paid. So if you have an extra car sitting around (the average American family has two) now is the ideal time to consider selling it and pocketing the cash for a rainy day.

Photo by Greg Gjerdingen on Flickr

Photo by Greg Gjerdingen on Flickr

Even rental car agencies are scrambling to restock their fleets since selling off many of their wheeled assets last year to save money. They're in the market to buy used cars instead of new ones, most of which will be purchased via dealerships.

However, it's not at all good for those looking to purchase a used car for the purpose of saving money. These high values mean that used car prices have soared, but only temporarily. The good news is, this isn't expected to last very long, and we are likely to see things drop in the coming months as prices begin to show a glimmer of leveling out. It all depends on how fast new vehicles can roll into dealerships across the U.S.

But for now, it's better to sell than buy, so take this chance while you still have it.

Would you sell your extra car for extra cash right now? Tell us in the comments.