When is the Best Time to Trade in Your Car?

salesman passing over new car key

 

Holding on to your older vehicle may save you from having to make regular monthly payments, but sometimes the money you’d spend on maintenance might be better spent on a new, more reliable vehicle. If you’ve ever wondered. “When is the best time to trade in your car?”, then keep reading! If you have any questions about when to sell your car, feel free to contact us. We’re here for you! 

When is the Best Time to Trade In a Car?

Trading in a car at Honda of Mentor is quick and hassle-free, but when is the best time to trade in a car? Prices for used vehicles tend to go up in the spring and summer, and some Painesville drivers are willing to pay more for a car after receiving their tax return. Still, there are other considerations. Here’s how to know when to sell your car:

  1. First, determine the current value of your vehicle using the Honda of Mentor trade-in valuation tool and by doing some local market research.
  2. Ask your favorite mechanic to inspect your vehicle and take a guess at how much it might cost to maintain your car over the next year.
  3. Unless your car is a classic, its value is unlikely to increase over time. If you think that the money you’d spend on service would be better spent on a down payment for your next new Honda, then now is probably the best time to sell your car!

Although you can trade in a car that’s not yet paid off, it’s usually best to wait until the vehicle has been entirely paid off before you trade it in—especially if your car is worth less than what you owe on it.

Why Right Now Might Be the Best Time to Sell a Car

Things like manufacturing difficulties caused by the pandemic—and the accompanying semiconductor shortage—are causing used car values to increase quickly around Eastlake If you’re still on the fence about trading in your old vehicle, why wait? Resale values are near an all-time high! 

If you’re concerned that finding the perfect next vehicle may be too hard at this time, there is a simple solution. You can order a new car through Honda of Mentor and trade in your current model when your new Honda arrives at the dealership!

Sell Your Car to Honda of Mentor Today!

Now that we’ve answered the question, “When is the best time to trade in a car?”, we’d love to help you take the next steps! Check out our special offers on new and pre-owned vehicles, and reach out to us today!

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