When Is the Best Time to Trade In a Car?
Busting common trade-in myths
According to Edmunds data, the best time to trade in a car is within the first two quarters of the year, when used car values tend to trend higher. That’s the ideal situation, but life is unpredictable, and you may need a car later in the year. Does that mean you’re out of luck? Not necessarily. There are many other factors that affect trade-in values, such as the current market conditions, the age of the vehicle, mileage and even the brand of vehicle itself. With this in mind, here are answers to common questions people may have about the timing of their trade-in.
Note: A general rule to be aware of is that you’re going to get less money trading in your car than selling it yourself. That’s because the dealership needs to factor in reconditioning costs and also wants to make a profit on the vehicle. These factors impact the trade-in price they are willing to offer. Also, the best time to trade in your car may not coincide with the best time to buy a new car. Being aware of these factors can help you set expectations for the price you’re offered at the dealership and help you decide if it’s the best time to trade in a car.
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