Posted on 9/2/2014
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