SANTA MONICA, Calif. -

The assertions Edmunds made after sharing its latest data on used-vehicle retail prices and trade-in values might be a good news-bad news scenario for dealerships.

Edmunds’ data showed that the average value for all vehicles traded in during the month of August dipped to $21,058, marking a 1% decrease compared to $21,261 in July.

Analysts then indicated the average transaction price for all used vehicles also decreased, dipping to $26,308 in August compared to $27,245 in July. That’s a drop of 3.4%.

Now for potential deeper meaning to those figures that came to light on Wednesday.

Edmunds experts said that used-vehicle demand is declining because consumers who had an urgent need for a vehicle likely already “bit the bullet” this summer and made their purchase.

And Edmunds added consumers who can stand to hold off on a purchase are likely “biding their time” until better deals are available.

“Minor percentage decreases aren’t typically a marker of big news, but considering the meteoric rise we’ve seen in used prices and trade-in values over the last few months, it’s safe to say that this is a notable milestone,” Edmunds executive director of insights Jessica Caldwell said in a news release. “The used market may have finally hit a peak in August, but the industry is still facing a long and uncertain road ahead.

“New-vehicle inventory is still very thin due to the global chip shortage, and challenges created by the Delta variant are placing further pressure on production timelines,” Caldwell continued. “The supply chain is so fragile at this point that it’s possible that we could see used-vehicle prices and trade-in values creep up again.”

Edmunds took a closer look at trade-in values for three models known for commanding some of the highest resale values in the U.S. The vehicles were the Toyota 4Runner, Toyota Tacoma and Jeep Wrangler.

Analysts found that the average trade-in value for used Toyota 4Runners in August dropped to $33,801, a $1,130 decrease from June’s high of $34,931.

Edmunds then spotted that the average trade-in value for used Toyota Tacomas dropped to $28,512 in August, a $2,010 decrease from June’s high of $30,522.

Furthermore, analysts determined the average trade-in value for used Jeep Wranglers dropped to $30,277 in August, a $396 decrease from June’s high of $30,673.

“If you currently own a car but also know that you need to make a replacement purchase soon, we’d strongly advise you to consider selling now to maximize the value of your trade-in,” Edmunds senior manager of insights Ivan Drury said in the news release. “Your used car’s value is one of your biggest negotiating tools in today’s challenging market.

“Waiting any longer to sell or trade in could cost you hundreds, if not thousands, of dollars as we approach the new calendar year, when depreciation typically accelerates,” Drury went on to say.