The best time to trade-in your car is any time before 100,000 miles, during spring and summer seasons, and not immediately after purchasing a new car.
When it comes to purchasing a new vehicle, the process can be very costly and requires some wise decisions, especially when selling your old car or trading it in.
Trading an old vehicle can be a convenient method of getting the process done fast and safely. Although it will not get to the top dollars or maximize your profits, it is still attractive to many people who don't prefer to deal with the hassle in the car selling process.
One of the best ways to trade-in your car to get the most value out of it is to determine when is the best time to trade-in your car?
This article walks you through all the factors that you need to consider while trading in your vehicle. It also helps you maximize your profits, and they get the most money out of your vehicle.
When is the best time to trade-in your car?
Deciding on the best time to trade-in your car depends on your own goals and timeframe. For example, if you would like to get out of your car immediately, you like it again have as many options and factors to consider as someone willing to be more flexible.
If you think that you are flexible enough and can wait on the right time to trade-in your car, here are some of the most important factors that you need to consider:
Your car's mileage
Although mileage is only one factor determining how much your dealership is offering, you need to consider it.
In general, automotive experts expect that around 30,000 miles and 40,000 miles, your vehicle will start facing major problems, and that is the exact time where your warranty might end.
Most dealerships see the 100,000 miles as a good cut-off between attractive and appealing vehicles versus others. This is because the dealership prefers to add to their certified preowned category vehicles with less than 100,000 miles.
Keep in mind that this does not necessarily mean that if you have more than 100,000 miles on your vehicle, you're not going to get a good offer. A lot of good vehicles with high-demand models return their value even after 100,000 miles.
The idea here is that if you are planning to trade-in your vehicle, it might be wise to give it a little break and not drive it as much to prevent adding more mileage to this car. At the same time, it is very important to keep your vehicle well maintained.
Thus, the bottom line here is that there is no clear answer for “what is the best mileage to trade-in a car?”
Your car's age
At first glance, it might sound that older vehicles are not suitable or not recommended for trading. However, the idea here is that newer cars will lose a lot of their value immediately after purchase.
If you just bought a vehicle and it's the first year of ownership, it would lose about 10 to 20% of its value.
However, the depreciation will gradually reduce, and after five years, you will not see a significant drop in your vehicle's value as you saw in the first five years.
Something to keep in mind regarding your vehicle age and trade it in is how much you owe on this vehicle. Often, people end up owing more than what their vehicle is worth and what the dealerships are willing to offer them. If that's the case, you'll end up paying the lender not using the car's value towards your brand-new vehicle.
According to automotive experts, people buy more vehicles during both the summer and spring. At that time of the year, dealerships are willing to pay more to meet their demands.
However, you need to be wise valve determining when it's the best time to trade-in your vehicle and at what time of the year exactly. This is because if your vehicle is two months before the end of the year, it might sound a little older than it is to some people.
For example, if you own a 2012 Ford Focus and you would like to wait until the winter of 2015 until you trading in, your 2012 might sound a little old to some people because it's approaching the end of 2015 and might indicate it's almost 2016.
Your personal timeline
Another very important factor in determining the best time is, for example. If you are under a crunched timeline, you might not have enough time to negotiate the price or shelf for multiple appraisals.
In general, the trading process is much more relaxing than buying a new vehicle because it's on you to accept the deal or not or maybe shop for a different appraisal. However, if you can't wait this long, you might end up accepting the first appraisal you have, which might not represent the actual worth of your car.
When should you not trade-in your car?
While it's great to understand when the best time to trade-in your car is can it is also as important to understand when you should not fit in your car, and let's take a look below:
Certain loan penalties
Some loan policies and terms require paying some fees if you decided to pay off your're earlier than expected. This does not apply; some states might apply it to all rooms.
Thus, it is very important before you attempt to trade a new car to review in detail your loan's terms and policies and make sure that there is no such fee. Otherwise, you might need to take care of it, not the dealership. And in some scenarios, you might be advised not to trade-in this vehicle.
You've just purchased your car
Have they mentioned earlier, if you just purchased your car, it will immediately lose about 10 to 20% of its value? Thus, it might not be a great decision tool trading this car.
When buying a brand-new vehicle, you'll pay a lot more for taxes and some add ONS if not maintenance contracts. And in a lot of situations, you might need to repay the same costs one more time.
If you still would like to get rid of this vehicle Virgin just purchased, you might need to sell it privately instead.
You need to pay more money than the vehicle is worth
As we indicated earlier, for whatever reason, he ended up needing to pay more for your loans than what the dealership is willing to pay you; it's not an ideal situation for you. It better not to trade-in this vehicle.
What are the best vehicles for trade-in?
Although we mentioned many factors determining when it's a good time to trade-in your car, some factors have to do with your vehicle's make and model itself. Here are some of the best vehicles that hold and retain their value and suitable for trade-ins :
The best SUVs for trade-ins
According to Kelley Blue Book, the best SUV's that return their resale value are Subaru Crosstrek, Subaru Forester, Subaru Outback, GMC Yukon, and Porsche Macan
The best cars for trade-ins
Kelley Blue Book also listed the best cars for trade-inns including Subaru Impreza, Subaru Legacy, Toyota Avalon, Lexus GS, and Toyota Prius Prime
The best trucks, EVs, and Minivans for trade-ins
If you have one of the following vehicles, you have a great chance of getting a great deal for trade-in: Tesla Model X, Honda Odyssey, Toyota Tacoma, and Toyota Tundra.
Does cleaning your car increase the trade-in value?
Cleaning your car or even minor repairs is not recommended and is considered one of the most common mistakes people make whenever they trade-in their cars.
These minor repairs and cleanups might not increase your vehicle's overall value because the dealership can get these repairs done quickly and at their own house. Thoughts, all these efforts might be considered a little waste of time.
Of course, you don't want to visit the dealership with a very messy vehicle with some food leftovers or smoke smell thoughts, and you don't want to overdo the cleanup by doing some deep wax cleaning. A quick car wash is sufficient To remove all your personal belongings and any previous trash.
How can I get the most money for my car trade-in?
It is all about how much time you have. For example, if you are flexible, you can apply as many of the mentioned factors as possible but, if you are in a rush, it will be hard for you to get the most money out of your car.
Assuming that you are flexible and willing to implement some of the common tips to increase your profits, it is recommended to choose the right time of the year for trading in your car Anne shop for multiple appraisals.
You never want to rush your trading process. Take your time and reach out to multiple dealerships. Review their appraisals and see which one of them has the best offer for you while having your brand-new vehicle of choice.
Sometimes it might be worth shopping for multiple dealerships beyond their location because there might be high demand for your vehicle.
Another tip that some automotive experts suggest is to sell your car to a dealership that does not carry your brand. For example, you don't want to sell a Ford vehicle until a dealership with seven competing Ford vehicles on their lot.
Do dealerships test drive your trade-in?
Of course. Dealerships have their representatives and mechanics in-house who will test drive your vehicle and check its history. Thus, it is very important to be upfront with the dealership and make sure that you clarify any issue with your vehicle because they will find it anyways.
What do dealers look for in a trade-in?
Dealerships are usually looking for vehicles with high demand and the ones that were well maintained. It all depends on your vehicle's type and the location you're looking at him. For example, if you're living in an area with a high demand for minivans, trading in a minivan is an idiot option because most dealerships will be willing to pay for purchasing these minivans.
Another important factor is the number of similar vehicles to yours on the dealership lot. For instance, if the dealership already has 7 Ford Focus on their lots, it is never recommended to trade-in a Ford Focus because you will have seven other competing vehicles sitting on their lots, right?
What if the dealership did not accept my vehicle? Do we have any other choices?
If you ended up in a situation that the dealership is not accepting your car and you are still worried about dealing with private buyers, we advise you to get in touch with Cash Cars Buyer.
Cash Cars Buyer is one of the top-rated companies in the nation that is willing to buy your vehicle despite its cyber condition.
We provide free towing for all customers while ensuring that we provide you with the top offer reflecting the maximum value vehicle can make around your area.
Our process is very straightforward, and all it takes is a quick conversation with our team describing your vehicle type and condition. Once we get this information, we offer you what your vehicle is worth, and the offer is usually generated within 30 seconds.
Once you accept the offer, we move forward with scheduling a pickup time and location that works for you. At the pickup time, or local representative will come to your preferred location and remove your car safely and then hand you the cash payment immediately on the spot.
To get started, you can give us a call at 866-924-4608 or visit our home page and click on the free instant online offer.