When Should You Trade-In Your Car?
October 23, 2020
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First off, it is imperative that you understand one thing regarding trade-ins: You are highly unlikely to earn a profit. No matter how much you paid for the car originally, you should only expect to make a fraction of it back trading it in. Yeah, that’s pretty lame, but that’s the truth. However, we understand that it’s better to get some value back rather than get nothing for your troubles! Hence, we must go over today’s topic: When should you trade-in your used vehicle? Yeah, the price won’t be the best, but there has to be a time where it’s ideal to trade it in, right? Of course!
The Best Age to Trade-In a Car
Before diving into this topic, we must remind you that this section covers trading in a new or recent car. Something several decades old and far from its prime may be a tad challenging to negotiate with a modern dealership. Aside from that, anything after five years old is bound to have its value dip considerably. Knowing this, you need to remember that the dealership can pay you more for a newer car.
Years
If the dealer wishes to sell your used vehicle, it has to possess considerable value. They want to find an automobile that can pass off as a new car (at least not too used). Make sure your vehicle is in good shape before the inspection so you can get as much value out of it as possible.
Is it Good to Trade in a Car After 2 Years?
If five years is considered a generous drop-off, two years is delightful! The closer it is to a new vehicle, the better! If you think “good” means a high price like I do, then that’s the best possible outcome for your situation! Trying to find one close to a new quality is challenging, so you should expect a reasonable price out of this deal.
How Many Kilometres Should You Trade in Your Car?
Typically, a dealership is more willing to pay more for automobiles with lower kilometres. It’s a similar concept to age. However, believe it or not, most dealerships are eager to take in a car regardless of the years of mileage attached to it. The most essential thing is that they can make a profit trying to sell it. Even something with over 100,000 km can be traded in.
Is it Okay to Trade-In A Car?
Of course! A person trying to get good value out of an old vehicle is common place! Everybody wants a new vehicle, but sometimes trading-in your current one is the only way to do so. Otherwise, you have to pay a lot of extra money to get something like a new automobile! A new car is lovely, but trading-in a vehicle may be the only option for some people.
When to Trade?
Surprisingly, there is a time within a calendar year that a person gets the best price out of their old vehicle. You might ask: what is that time? That time is within the first two quarters of a year. This time has the most buyers; therefore, it is the best time to try trading-in your vehicle. Next, you must understand that the latter half of the year has fewer buyers.
Vehicle Value
One thing worth noting is that not all vehicles are the same when it comes to their value. For instance, an SUV’s durability is often praised by the masses. This extra durability also means that it’s worth more in the long run compared to some vehicles next to it like a sedan. The more durable an automobile is, the more you can get out of it!
Why Should I Consider Trading-In My Vehicle Instead of Selling it?
We won’t lie to you: you do earn more through selling. However, there are some factors to consider regarding your vehicle. The first factor is dealing with different folks from different walks of life. For instance, someone who works for a car dealership is going to be more trustworthy than some guy you met online. Next, you need to understand that there’s a ton of paperwork involved in selling a vehicle. A dealer can help the process seem seamless, but a stranger may mess up on their end. If they mess up and possess your old car, it can lead to some legal troubles. Finally, it’s easy to locate your local dealership as opposed to finding a trustworthy buyer.
Summary
Trading-in your car is surprisingly more convenient than most people realise. There’s a time and a place for everything. As a result, you should consider all of your options before contacting a dealership to determine your car’s value. We all wish to obtain a good deal, but it’s advisable to have reasonable expectations! Remember that the age, the mileage, and other factors can heavily influence the trading process and if a dealership is willing to accept your car in the first place!
