The Most Common Signs it is Time to Sell or Trade-In a Vehicle
Every car reaches a point where it is no longer a practical option for transportation. Waiting until a car stops working completely is never a good idea. It is better to try to trade-in or sell the vehicle while it still retains some value. Knowing exactly when to starting planning for a new car is not always easy. There are several signs that it might be time to sell or trade-in a vehicle.
Constant Maintenance Is Required
It is usually time to sell or trade-in a vehicle when maintenance is needed every few weeks or months. This is usually a sign that some of the key parts of the vehicle like the transmission or engine are starting to wear down. The cost of ownership will increase as larger repairs are needed to keep the car or truck functional. This can also start to affect the safety of the vehicle. It is usually best to trade-in the car or truck for a newer model that runs smoothly.
Fuel-Efficiency Is Low
The fuel efficiency of vehicles increases every year by some amount. It is usually a good time to sell a vehicle when the fuel efficiency starts to fall far behind the rest of the cars on the road. Older cars will have lower fuel efficiency than models that are just a few years more current. Fuel efficiency can also degrade over time as the engine and other parts wear down. Purchasing a new car or truck will improve fuel efficiency and extend the range of the vehicle.
Something to consider is the mileage on the vehicle. A car or truck that has more than 100,000 miles on the odometer is likely to start needing large repairs in the near future. High mileage will also make the car more difficult to repair if an accident occurs. It is usually a good idea to sell or trade-in a vehicle with more than 100,000 miles on the road since increasing the mileage further could reduce the value.
No Modern Safety Features
The quality and number of safety features on new cars is far above what was included in older models. Vehicles that are used to transport family and friends regularly should be as safe as possible. A reason to sell or trade-in a vehicle is if certain safety features are missing, malfunctioning or below modern standards. The vehicle can be traded in for a new car or truck with side-curtain airbags, antilock brakes and advanced features like collision avoidance systems.
A final sign it is time to sell or trade-in a vehicle is if personal needs change due to life events. This could mean having a new child, getting a new job that is far away or sending children off to college. All of these events mean that the current car might no longer meet personal needs. Trading in or selling the vehicle for one that is more fuel-efficient or that has more passenger space will make dealing with the change easier.