The Best Time to Trade In or Upgrade Your Vehicle at Red McCombs Hyundai

Are you planning to purchase a new vehicle? When upgrading or trading in your vehicle, timing is everything. The experts at Red McCombs Hyundai have prepared this guide to help you decide when it's time to make this shift.

When is the Best Time to Trade-In My Car?

When You Have Positive Equity

Unfortunately, this question doesn't have a definitive answer. However, you should postpone it until you have achieved some positive equity, which means after you've made significant progress in repaying your loan. Don't be concerned if you still have outstanding payments. It's a common practice among car buyers to trade in their vehicles while they're still being financed.

Any time is a good time to trade in your car, but it's best if you expect to receive more than you owe or have positive equity.

When Your Warranty Ends

Note when your vehicle's warranty will expire. Many dealers make lowball offers on out-of-warranty vehicles, so waiting too long may dramatically lower the value of your trade-in. New vehicle warranties normally last three years from the purchase date. Keep that window in mind if you're thinking about making a trade.

When Your Car Needs Repair or Maintenance

To avoid high-cost brake and tire repair or replacement, consider trading in your car before you need to repair or replace these parts.

Before Exceeding the Normal Mileage

Your car's mileage has a significant impact on its value. Expect a sharp drop in value after the mileage exceeds the average annual mileage. Most drivers consider 12,000 miles to be an average annual mileage.

If you drive more than the average driver, your vehicle's value can reduce the value by up to 10% or more, depending on the make, model, and condition.

When is the Best Time to Upgrade My Vehicle?

Shop Near the Month's End

If you go shopping on the last day of the month, you can get fantastic deals. Most sales teams have monthly targets. As the month ends, they are more likely to be eager to reach their targets, which can result in better deals for you.

Purchase a Car Later in the Year

It is also strongly suggested that you stop by dealerships more regularly as the year comes to a close. During this time, salespeople focus on meeting their monthly, annual, and quarterly goals. The best prices are usually found during the end-of-year sale.

When Vehicles are More Accessible

The vehicle industry is having a good year in terms of selection and accessibility. Buyers now have more leverage as inventory rises, although prices remain high. With more vehicles available, dealerships are providing more appealing sales offers.

Wait for New Models to Arrive

Consider waiting until the models for next year become available before buying a new car. Dealers will be eager to clear out their current inventory to make room for new arrivals, so take advantage of the opportunity to save money.

Trade-In Your Vehicle at Red McCombs Hyundai

When you're ready to upgrade your vehicle, contact a reputable dealership to guide you through the process. The team at Red McCombs Hyundai ensures that customers will have a pleasant and trouble-free experience. Contact our renowned Cadillac dealership today to schedule an appointment.