When Is the Right Time to Trade in Your Vehicle?

If you’re on the hunt for a new car or even if you’re just starting to consider an upgrade, you might be wondering when you should trade in your used vehicle. Timing your trade-in just right can help you get the most money for your used car and help you offset the cost of the next one.  

The main things that impact the value of your used vehicle include:  

• Age 

• Mileage  

• Features and upgrades fitted to the car  

• Overall desirability of the model 

• Condition  

• Service history 

These factors can impact the best timing for your car trade-in. But when is the right time to trade in your car?   

Mileage or Age  

There isn’t a magic number for mileage at which a car suddenly loses all its value. A well-maintained car with 20,000 miles on it might get the same trade-in value as a similar vehicle with only 10,000 miles.  

There is a bigger and more consistent drop-off when it comes to the age of your car. Traditionally, you’ll see a sharp drop in value at the five-year mark, and the value of your used vehicle will decline further from there.  

Features and Desirability  

One of the reasons cars see a drop off in value after five years is that this is the average generational cycle of new cars. That means the common features and creature comforts often see a jump every five years or so. For example, most cars made before 2016 didn’t have Android Auto^® or Apple CarPlay, and most cars built before 2021 didn’t have wireless compatibility with those two driving apps.  

Likewise, driving aids and safety systems like the radar-based adaptive cruise control you find in Toyota Safety Sense 3.0 were less common in pre-2020 vehicles.  

If your car is getting on in years, it might be time to trade it in before it is considered outdated.  

Of course, some vehicles retain their value longer. The Toyota Tacoma is one example of a car renowned for high resale value long into its lifespan. These ultra-reliable pick-ups are highly desirable and sought after.  

Condition and Service History  

At first glance, these don’t seem like timing issues, but they can be. For example, if your vehicle is in really good condition but is starting to show small signs of aging, now might be a good time to look at trading it in.  

The dealership will also assess your car’s service history when it’s time to trade it in. That’s why it’s important to maintain your vehicle with regular service as per the owner’s manual.  

If you’re approaching key service milestones for things like timing belts, or transmission service, you might want to upgrade before you take on those costs. 

Trust Mark Jacobson Toyota with Your Trade-In  

Are you searching online for “new cars near me”? At Mark Jacobson Toyota we sell new and used cars and buy pre-owned cars too. You can rely on our experienced staff to give you a fair value for your pre-owned vehicle and help you upgrade to a brand-new, or new to you Toyota.  

Ready to see what your used car is worth? Reach out to the team at our Toyota dealer near Raleigh today! 

Tags: New Vehicle, Trade-In
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