When Is the Best Time to Trade-In or Upgrade Your Vehicle?

Trading in your current car may be necessary when you need a safer, more reliable vehicle to drive around the city. When you aren't changing your vehicle out of necessity, trading is all about timing so that you get the most out of the deal.

That's where Doug Henry Buick GMC can help. Our goal is to make the trade-in process as straightforward as possible. Learn when it's time to trade in your vehicle so you get more than what you owe for your trade-in.

When to Trade Your Vehicle

How do you know when it's time to trade in your vehicle? Since new vehicles can be quite expensive, most drivers would rather wait until changing their current ride is necessary. To help you determine if it's time to sell your vehicle, we've compiled some helpful tips.

Assess Your Vehicle

The first thing you should consider is the condition of your vehicle. Vehicles are often upgraded when they no longer run smoothly or have serious issues. This becomes evident if they cost more to repair or cause frequent headaches due to issues.

Regular visits to the mechanic due to engine, transmission, and electrical problems are costly, so it may be better to invest in a new, more reliable vehicle. Sometimes, it makes more financial sense to invest in a new vehicle and take out a loan than to repair an older one constantly.

Consider the Cost

It is also important to consider that new vehicles are more expensive than old vehicles. Price is not everything, though. You must consider other factors, including loan interest rates, future maintenance and repair costs, property taxes, and updated registration fees. Newer vehicles typically have higher license plate numbers than older cars.

Consider Your Finances

Get pre-approved for an auto loan before making any decisions, especially if you have bad credit. The last thing you need is to get stranded without wheels if you cannot secure financing.

A trade-in may not be the best option if you owe more on the vehicle than it is worth. You could pay off your debt to gain equity. Otherwise, you'll have to add the debt to your new purchase.

When to Upgrade Your Current Ride

You can have safer and more reliable drives by upgrading your car every few years. Newer vehicles typically perform better. You'll also get more dependable safety features and improved comfort and convenience when you upgrade to a newer model. Here are some signs it's time to upgrade and buy a new vehicle:

Your Vehicle Is a Gas-Guzzler

Even without monthly payments, spending a lot on gas could mean it’s time to consider a more fuel-efficient vehicle.

The Vehicle Is No Longer Eco-Friendly

Vehicles today are equipped with energy-saving technologies that are not found in older models. It may be time to consider environmentally friendly alternatives so you do your part in protecting the planet.

Problems are Starting to Arise

As vehicles age, breakdowns become more frequent. Your vehicle might not be worth keeping if you spend more time and money repairing it than driving it.

The Vehicle Has Become Unreliable

You rely heavily on your vehicle to take you to work and other crucial appointments. If your ride constantly breaks down or gives you problems, your daily life can be impacted and your reputation can be seriously damaged.

Trade-In or Buy a New Vehicle From Doug Henry Buick GMC

Are you in the market for a trade-in deal for your vehicle? With Doug Henry Buick GMC, you're already set up for a great deal. Visit our Goldsboro, NC, showroom to speak with our finance experts.