How often should I trade in my car, or vehicle, for a new one?

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  1. MrSyntheticOil profile image59
    MrSyntheticOilposted 7 years ago

    How often should I trade in my car, or vehicle, for a new one?

    Factors like depreciation, balance on the loan and condition are part of this.

  2. pyrotics profile image62
    pyroticsposted 7 years ago

    this depends on preference and what you can afford. some cars are built to last as long as they are taken care of, but some people see cars as a trend. Used cars hold their value more than New cars. New cars lose their value as soon as you take the keys and drive it off the dealer's lot. It may be wise to look into having the car's oil changed every three months or 3,000 miles, which ever comes first. this helps keeps the car fuels efficient. But for people who enjoy having a new car every Six months and can afford that kind of thing, it would be a good idea looking into leasing a car.

  3. profile image0
    rorshak sobchakposted 7 years ago

    The thing I like about foreign cars is that their value seems to hold up so much better. So if you put alot of miles on it you can still sell it to get some money out of it. My car is a vw jetta it has 169,000 miles on it and I am driving it until it stops moving. I love it.

  4. Corrie Lamprecht profile image75
    Corrie Lamprechtposted 7 years ago

    It depends on your financial status and the condition of your car.  Lower mileage has more value on older car; but year model also has more value on younger car.  In general i think big companies sets the line.

    Past the two year mark, that value of a car drops fast.  Past 150,000 km the value also drops fast.

    80,000 km or 2 year is my border.  No maintenance yet, still some warranty left, good option for buyer.  All gives me better price.  I usually find I have to pay about 20-25% of the new value in; often even trade in at better price than original price paid.

    BUT - if your car is on lease (Not paid off) better keep it and pay off, then enjoy a few months without those payments before you consider trade in.

 
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