Why Trade in Your Vehicle
Knowing when to let go of our vehicle can be a hard decision but then deciding if selling to a private party or trading your vehicle in is the right decision can be just as difficult. But why trade in your vehicle? There are many advantages and disadvantages to both, we had made a comparison of trading vs selling your vehicle to help you in your decision making process.
Advantages of Selling:
- Likely could get more money
- Many avenues to sell
Advantages of Trading In:
- Smooth transition from old car to new
- No potential legal problems
- Lower taxes on your new car purchase
- Easy and convenient
Disadvantages of Selling:
- Could take a long length of time
- Lots of paperwork
Disadvantages of Trading In:
- Trade value not set in stone
- Value may not be what you think your vehicle is worth
Knowing When It’s Time to Sell Your Vehicle
Knowing when it is time to sell or trade your vehicle can be hard to decipher. You don’t want to wait too long and have a major breakdown that ends up costing you lots of money so when is that perfect time to sell or trade your vehicle? First, consider your vehicle’s current value when thinking about selling or trading. In the first three years of ownership, a vehicle loses almost half of its value through depreciation but not every vehicle depreciates at the same rate. So be sure to check your specific vehicle’s value. Maintenance cost is another factor to consider, if your are constantly bringing your vehicle in for servicing and spending more and more money then it may not be a bad time to look into selling or trading your vehicle.
When repairs become major they can sometimes cost as much as a monthly payment on a new vehicle would and as vehicle’s become older, they will begin to need more and more repairs and servicing. At Moritz Kia, we make finding your vehicle’s trade value easy with our calculate your trade tool under our Finance menu tab. In as easy as 3 simple steps find out your vehicle’s full market value for your trade. If you have any questions, give us a call at Moritz Kia, we will be glad to assist you.