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When to sell or trade your vehicle.
Posted on 6/10/20 at 5:29 pm
Posted on 6/10/20 at 5:29 pm
I have a 2011 Siverado it has 118,000 miles on it and is in top notch shape for a 9 year old truck. It has a couple of rock chips in the paint but that is it. This is the longest I have ever kept a vehicle but I don't drive as much as I used to so I don rack of the miles like when I was younger. I just got to thinking today when do you know sell or trade so you still get a decent value.
10
Posted on 6/10/20 at 5:30 pm to Ponchy Tiger
7-10 years old. The prime time to sell it is where the car is at the point you received the most value out of it and its right before things start breaking down
This post was edited on 6/10/20 at 5:31 pm
Posted on 6/10/20 at 5:38 pm to htran90
I usually do it when I want a new or different one. I find trading them in after the fact kind of tedious.
Seriously, 7 to 10 is about right to get the most use out of it before its value really drops off or it starts breaking down. Also depends on the vehicle.
Seriously, 7 to 10 is about right to get the most use out of it before its value really drops off or it starts breaking down. Also depends on the vehicle.
This post was edited on 6/10/20 at 5:40 pm
Posted on 6/10/20 at 5:39 pm to htran90
I believe it becomes more difficult for dealers to sell them at 120k miles due to restricted financing, but whether that has a significant effect on trade in value, I don’t know.
Posted on 6/10/20 at 5:39 pm to Ponchy Tiger
Sell a Toyota at 15 years. All others at 6-8 years.
Posted on 6/10/20 at 5:44 pm to htran90
quote:
7-10 years old. The prime time to sell it is where the car is at the point you received the most value out of it and its right before things start breaking down
I am no OT baller or one who really cares about cars. I have taken a different approach: Drive until it dies or because not worth fixing
Posted on 6/10/20 at 5:45 pm to Ponchy Tiger
My F150 is a 2011 and I just turned 50,000 miles.
Posted on 6/10/20 at 5:46 pm to Ponchy Tiger
You'll retail it for 14500.00. That's aggregate. Take the money.
Posted on 6/10/20 at 5:51 pm to Ponchy Tiger
Why not just keep it? You have a paid for vehicle that will likely go another 100,000 miles easily? You already took the depreciation on a new vehicle, don’t do it again.
I buy my cars new and don’t sell them until they have over 300k on the odometer. Vehicles are a way to get around, not a status symbol. That said, when I do sell them they still look and drive nice. I sell because reliability starts to become an issue after that many miles.
I buy my cars new and don’t sell them until they have over 300k on the odometer. Vehicles are a way to get around, not a status symbol. That said, when I do sell them they still look and drive nice. I sell because reliability starts to become an issue after that many miles.
Posted on 6/10/20 at 5:59 pm to Ponchy Tiger
When the wheels fall off.
Minimize your exposure to high depreciation as much as possible.
Minimize your exposure to high depreciation as much as possible.
Posted on 6/10/20 at 6:23 pm to StreamsOfWhiskey
quote:
My F150 is a 2011 and I just turned 50,000 miles.
Hey grandma!
Posted on 6/10/20 at 6:34 pm to Ponchy Tiger
I usually keep my trucks to long
Posted on 6/10/20 at 6:43 pm to Ponchy Tiger
Mines 11 and has 160k on the clock, never is my answer.
Posted on 6/10/20 at 7:09 pm to 257WBY
Toyota is going to be leaking oil from every gasket at 10 years.
Posted on 6/10/20 at 7:12 pm to Ponchy Tiger
If you’re financially stable. Every 5 years.
Posted on 6/10/20 at 7:28 pm to Ponchy Tiger
quote:The answer to this varies as to each individual’s financial situation and priorities.
When to sell or trade your vehicle.
I know folks who are comfortable (money-wise) who want a new car every two years.
Is that fiscally the best play? No but it’s their money and they’ll die with money in the bank.
The other extreme is extreme: running a vehicle until the doors fall off it.
With the ever-increasing complexity of cars over time, this will limit itself and reasonably how much can a person depend upon a 15 or 20 year-old vehicle?
The best fiscal play is obviously somewhere in between these two philosophies.
I buy a good vehicle (Lexus for the last three) and maintain them well.
Get to 200k and nothing major has happened to the vehicle.
I start looking at that point and “give” the old vehicle away as a trade-in on the new one.
Lexus treats me like a king during the (admittedly overpriced) service appointments, loaners whenever I want, letting me park at the Metairie location while I travel instead of the Airport garage, etc.
Is there a cheaper way for me to purchase transportation? Probably, but I am also probably going to die with money in the bank so it matters less.
Good luck figuring out what is the right philosophy for you.
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