At some point in your adult life, you will trade in a vehicle. There may be circumstances when you trade in your current car simply because you need an upgrade to drive around the city in an automobile that is safe and reliable. When it is not done out of necessity, however, trading in a car truly is all about the timing, so that you can make the most from the trade. If you are uncertain of when is the best time to trade your vehicle, the Barbour Hendrick Honda sales team in Greenville, North Carolina, has taken the information provided by Progressive to help you break down the trade-in process to a science. Find out when is the right time for you to trade in your car, so you can boost the trade-in value by getting more than what you owe.
Monetary Factors
While there is no specific timeline for when you can trade in your vehicle at any point, it may be wise to wait to trade in your vehicle when you have positive equity. This happens when you have paid enough on the loan for the vehicle. Do not worry about whether you can trade in your car when you still have a loan on it. Many people trade in their vehicles before paying off their loans when they know that the dealership will pay you more than what you still owe for the vehicle. Again, you can trade in your vehicle whenever, but it is ideal to do it if you are going to receive more than what you still owe or you have positive equity from the trade-in.
It’s All About Timing
You may have noticed there is a running factor for trade-ins: time. Timing is crucial when considering if it is the right move to trade in your vehicle. A thing to think about with time is if your car’s warranty or warranties are going to expire. If you wait too long, the expired warranties can affect how much you can get for your trade-in. A good thing to remember is that most warranties for new cars end typically after three years, so check your warranty expiration date if you plan on trading in your vehicle.
Big Maintenance Services
In addition to paying attention to how long you have had a vehicle, the warranty expiration, and when you will receive the most positive equity, consider the maintenance schedule of your vehicle. If your vehicle is due for major services such as new brakes or tires, it may be wise to trade your car before you pay for such extensive auto services.
The Best Season for a Trade-In
To reiterate, timing is key to trading in a vehicle including the time of year. You may not be aware, but if you are wondering when the best time is to trade in your vehicle, it is between January and June as most car shoppers tend to be looking at the beginning of the year. Oddly enough, the body style of your vehicle factors into when you should trade in your car. The autumn season is optimal for selling SUVs with AWD or 4x4s whereas convertibles and sports cars do well in the spring and summer.
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Trade in Your Vehicle at Barbour Hendrick Honda
If you want to trade in your vehicle, the main thing is to not stress. With these tips, it is easy to know the right time to trade in your car. If you are still unsure, find a reliable dealership that can assist with this major decision. For residents in Greenville, North Carolina, the team at Barbour Hendrick Honda can help you with the trade-in process. Stop by our Honda dealership today.
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