When Is The Best Time Of The Year To Trade In Your Car or Truck To Get The Most Money?

Do I Want To Trade My Car?

This is typically the first question car owners wonder. Most of us believe the best way to receive top dollar for their pre-owned car is to sell it on their own vs. trading it for another car. However, there are a few things to think about when deciding if you should sell your vehicle instead of trade it in.

Normally It Takes Longer Selling It Yourself

With only a few special circumstances, selling a vehicle can take many weeks, if not longer; especially if your car needs repairs. You would have to arrange every facet of the sale process, from creating an ad to scheduling test drives, to arguing the price, and anything else that comes up. On the other hand, trading a vehicle usually happens at the time you get your new one.

The Hassles of Paperwork

Usually the seller is accountable for the necessary paperwork, such as registration and the vehicle’s title. Trying to do everything all alone may be a discouraging and long procedure if unexpected challenges are attached to the paperwork, like a lien. We are ready to handle all of the paperwork, including unexpected challenges.

Missed Tax Benefits

Perhaps the biggest benefit of trading in your vehicle is the possible tax savings in places with a state sales tax. For these states, there’s a credit applied to the new car’s sales tax if you trade in a vehicle at the same place where they buy a new one. In short, the taxes are calculated at the price difference after the trade-in value is figured into the new car price. The savings can reach up to thousands of dollars.

When Trading In A Car, What Is The Best Mileage Range?

There are many opinions on this question, especially with newer vehicles that are built for high mileage usage. Yet, there’s general consensus on the following three mileage milestones to think about when trading in your vehicle:

30,000 To 40,000 miles

This is the time when the majority of new car warranties typically end. On the other hand, this is when the first replacement of ‘wear’ components, like brakes or tires, are usually performed on vehicles. Your vehicle depreciation will generally begin to increase faster at this point, so the nearer your vehicle is to these miles, the more desirable your trade-in will likely be.

60,000 To 70,000 miles

Depending on how much you drive, a vehicle that gets to this milestone will typically be 3 to 5 years old and most likely has had many trips to the local automotive repair shop for routine and not-so-routine service. Clearly as the miles add up, the value gets lower so owners should think about this when considering their trade-in.

100,000 Miles Or More

Thanks to advancements in modern technology, this milestone is no longer the automotive death sentence that it was previously. But, the higher the mileage a vehicle has, the more the depreciation. Vehicles within this mileage could still have a positive trade-in value even if they aren’t in pristine condition. The condition of your car is definitely reviewed more closely as the miles pile up on the odometer.

Tips For Trading In Your Car

Lastly, an important component of trading in the car is being prepared for the trade-in appraisal. These suggestions are not an exhaustive list, to be sure, but they will help you get the best value out of your car.

Get It Clean

This ought to be a fairly obvious point, but some people think that showing their vehicle ‘as-is’ is an honest approach to a trade-in appraisal. While we do not advocate hiding blemishes or problems with the vehicle (spoiler alert, they will see through those attempts anyway), it is not a bad idea to clean up your vehicle before bringing it in. This means getting rid of all debris and trash from inside the vehicle (the trunk too), vacuuming and washing inside and outside, and maybe even doing a nice interior and exterior detailing. Just think of the appraiser as a potential buyer of the car and tidy up the vehicle accordingly.

Fix or Replace What You Can

We understand that repairs can be overwhelming, especially for significant mechanical concerns. But, if it is possible to repair minor dings, defects in the paint, and cracks in the various mirrors, windows, and windshield, all of those repairs will go a long way towards improving the price of your trade-in. If possible, we recommend repairing any mechanical problems the vehicle may have. The better the condition, the higher the trade-in value will be.

Have Your Bases Covered

If you have decided that trading in your vehicle is the best decision, then we suggest coming here with all of your vehicle’s documentation, including the title (if you have it), registration, any maintenance documents you have, and all copies of the vehicle’s keys. Come ready to trade-in your car and you will not suffer any delays in driving home in your new car.