Posted on
Tuesday 02
September
2014
Is it time to sell your car? Are you sure? How do you know when the time is right to part with your automobile? There are a few factors to keep in mind to help you decide if it’s time. -Are maintenance bills starting to add up? Sometimes fixing an issue can be the equivalent (or more) of a monthly car payment so if it’s happening frequently it may be time. -How much is your car worth? Your car loses almost half of its value just in the first three years of ownership. At that point you may lose more in a trade-in than you might save by buying a car that gets better mileage. It may pay off more if you keep it around for five years. -How much do you owe? If you owe more on your car than it’s worth that’s called being “upside down”. That could be a real drag if you try and trade it in. Your best bet is to hold on a little longer or try to refinance. -Where do you live? Understanding the market you live i ... read more