Do you know how your car’s trade-in value is influenced by the new year, mileage, and other factors? It may be beneficial to trade in your vehicle sooner rather than later, but there are some options to consider before making your choice.
Key Pinetown recently spoke to one of our vehicle evaluation experts to get their insights.
Q: With regards to trading in your car for next year’s model. Why should vehicle owners opt to buy towards the end of the year, rather than wait for the new year to do so?
A: Firstly, often there are price increases from manufacturers in the new year so a customer needs to weigh up whether they will gain or lose at a later date on a trade-in value by getting a year older model.
Secondly, if a person does above average mileage, we always recommend buying towards the end of the year, as high mileage will negatively affect a rand value on a vehicle when selling or trading in (more often much more than it being a year “older”)
By gaining that extra year’s mileage you can end up in a better position when trading in.
Q: What advice would you give to someone who is still on the fence about trading in their car earlier?
A: If a client has a trade in, they will lose greatly by doing the deal in January of the upcoming year. If they are determined to get next year’s model, the suggestion is to trade in over December of the current year, then rent a vehicle until the new year. This minor inconvenience works out much better for them in the long run.
Unsure about when the best time for you to trade in your vehicle is? Contact our sales team today and we’ll gladly help to determine the best trade-in option for you: (031) 717 0511