The day after Thanksgiving is widely recognized as one of the best shopping days of the year at retail stores but what consumers might not know is that it is also a great day to trade in one's car as well. Auto dealers say that many of them are buying up used cars as demand is steadily growing, NBC affiliate KARE reports.

The reason now is the best time for trade-ins is that many drivers chose to hold on to their cars longer in the wake of the recession. This caused a shortage of used cars and now lots are trying to fill the gap. Analysts say that dealers are not too picky either.

"Cuts across every brand, every model," Minnesota Auto Dealers Association Vice President Scott Lambert told the news channel. "Dealers are excited to work with you on a late model used car."

Of course, just because the demand is high doesn't mean that you should ignore steps that will help you get more for your car. According to Bankrate.com, one of the most important things to do is research before you bring your car in. This way you'll be able to come prepared with a general idea of how much your car is worth to know if you're getting a fair deal.

Additionally, making sure the car looks as good as possible, both inside and out can go also help you get top dollar.

As a final step you'll want to visit a reliable dealer like the New Jersey State Auto Auction. Along with promising a fair price, the business is an Autotrader.com Trade In Marketplace Dealership so you can get an appraisal in a matter of seconds.