If you are considering buying a new car, it makes sense that you can replace your current vehicle to help you with a payment. Or maybe you have a vehicle you no longer need and are just looking for a way to make some extra money. But what is the best time to shop with your car so that you get maximum benefit? And how do you decide? Here are some things to keep in mind before pressing the shutter button.
Look at what you owe: If you still owe money on your current vehicle and that amount is more than what the car is actually worth, it may be better to wait. Even if you are itching to buy a new vehicle, it does not make sense to make a change when you wait a little longer giving you an obvious advantage. Exceptions would be if your car needs major repairs that are not worth the investment; if the car is no longer safe to drive or fits your family or if you are able to pay the difference.
Find your car's replacement value: To start the process, you need to take care of what your car is actually worth. Use sources like Edmunds or Kelly Blue Book to get an estimate. Their detailed search engines will ask about the make and model of the car and its condition and compare prices around the country to give you the best estimate. If you are unsure of how to describe the condition of your car, it is always an option to have it evaluated and having the official documentation can make you a more efficient dealer in the long run.
Shop around: You can get a much better deal from one retailer compared to the next, so it's smart to shop. What you can get for your vehicle can also vary if you plan to finance a new car for the replacement.
Think about the time: Many experts say that autumn is a good time to contact a dealer for a replacement because they want to move soon obsolete models from their warehouse before the latest models come in. It is better to make a trade-off when your car is still in decent shape and something that other drivers will be interested in buying used.
Know when to sell: If you want to replace your car quickly and without much hassle, and if you are definitely planning to get another vehicle in the process, a replacement is probably the best option. But if you want to make some money, it is also an option to sell the vehicle yourself. You are likely to get more than you would from a reseller by putting in a little more time and effort.
For any car insurance questions, call or contact Keller-Brown Insurance Services today.