How Long Should I Keep My Car Before Trading It In?
If you’re wondering how long you should keep your car before trading it in, there isn’t one perfect number of years or miles. For most drivers, the best time to trade in a car depends on the vehicle’s age, mileage, condition, trade-in value, repair costs, loan balance, and your current driving needs.
At Apple Chevrolet, your local Tinley Park Chevy dealer, we regularly help drivers from Tinley Park, Orland Park, Frankfort, Mokena, and the surrounding Chicago suburbs determine whether it makes more sense to trade in their current vehicle or keep driving it.
Here are some of the most important factors to consider before making that decision.
When Is the Best Time to Trade In a Car?
The best time to trade in a car is different for every driver. You may want to consider trading in your vehicle when repair costs begin increasing, your vehicle no longer fits your lifestyle, you want newer technology or safety features, or your vehicle still has a strong trade-in value.
You don’t necessarily need to wait until your car reaches a certain age or mileage.
Instead, consider the overall cost of keeping your current vehicle compared with the benefits and costs of replacing it.
How Many Years Should You Keep a Car Before Trading It In?
There is no required number of years you should own a vehicle before trading it in.
Some drivers trade every few years because they prefer newer vehicles, updated technology, or warranty coverage. Others keep their vehicles for many years to maximize the time they drive without taking on another vehicle purchase.
The right decision depends on your vehicle’s condition, its current market value, how much you owe, and whether it still meets your needs.
Is There a Best Mileage to Trade In a Car?
There isn’t a universal best mileage to trade in a car.
Mileage is only one factor dealerships consider when determining a vehicle’s trade-in value. Condition, maintenance history, accident history, model, trim, features, age, and current market demand can also influence what your vehicle is worth.
A well-maintained vehicle with higher mileage may still have meaningful trade-in value.
If you’re approaching a major maintenance milestone or beginning to experience more frequent repairs, it may be worth getting a trade-in appraisal before deciding whether to keep the vehicle.
Should I Trade In My Car Before It Reaches 100,000 Miles?
You don’t automatically need to trade in your car before 100,000 miles.
Modern vehicles can often remain reliable well beyond that point when properly maintained. However, mileage can affect used vehicle value, and some drivers choose to trade before higher-mileage maintenance and repair costs begin to increase.
Instead of using 100,000 miles as a strict cutoff, compare your vehicle’s current condition and trade-in value with the cost of keeping it.
Should I Trade In My Car If Repairs Are Getting Expensive?
Increasing repair costs are one of the most common reasons drivers begin considering a trade-in.
Routine maintenance is expected with any vehicle, but repeated or expensive repairs can change the financial equation.
Before paying for a major repair, consider:
- The estimated repair cost
- Your vehicle’s current trade-in value
- Its age and mileage
- Other repairs that may be needed soon
- How long you plan to keep the vehicle
Getting your vehicle appraised can give you another piece of information to consider before investing in a major repair.
Should I Fix My Car Before Trading It In?
You don’t necessarily need to fix everything before trading in your car.
Basic cleaning and maintenance can help your vehicle present well, but spending thousands of dollars on repairs immediately before trading may not always increase its value by the same amount.
If your vehicle needs significant work, consider getting a professional trade-in appraisal first. You can then compare the vehicle’s current value with the repair estimate before deciding what makes the most sense.
Can I Trade In a Car I Still Owe Money On?
Yes. In many cases, you can trade in a car that still has a loan.
The dealership will compare your current loan payoff with your vehicle’s trade-in value.
If your vehicle is worth more than you owe, you have positive equity. That equity may be applied toward your next vehicle.
If you owe more than your vehicle is worth, you have negative equity. Your options will depend on your loan, vehicle value, financing, and the vehicle you’re considering purchasing.
At Apple Chevrolet, our team can help you review these numbers so you understand your options before making a decision.
What Determines My Car’s Trade-In Value?
Your car’s trade-in value is based on several factors, including:
- Year, make, and model
- Current mileage
- Overall condition
- Vehicle history
- Maintenance history
- Trim level and equipment
- Current used vehicle market demand
- Local market conditions
Because used vehicle values can change over time, an appraisal based on your specific vehicle can provide more useful information than relying solely on a general estimate.
Is It Better to Trade In My Car or Keep It?
If your vehicle is reliable, affordable to maintain, and still fits your needs, keeping it may make sense.
If repairs are becoming expensive, your needs have changed, or you’re interested in newer safety, technology, efficiency, towing, or comfort features, it may be worth exploring a trade-in.
The important thing is to compare your options rather than assuming you need to trade simply because your vehicle reaches a particular age or mileage.
Watch: When Should You Trade In Your Car?
Hear from Joey at Apple Chevrolet as he explains common times when drivers consider upgrading, what factors you should think about before trading in your current vehicle, and how our team can help you decide whether trading in makes sense.
Frequently Asked Questions About Trading In a Car
How long should I keep my car before trading it in?
There is no set amount of time. Consider your vehicle’s age, mileage, condition, repair costs, current trade-in value, loan balance, and whether the vehicle still fits your needs.
Can I trade in a high-mileage vehicle?
Yes. High-mileage vehicles can still have trade-in value. The amount will depend on the vehicle’s age, mileage, condition, history, equipment, and current market demand.
Can I trade in my car if it isn’t paid off?
Yes. Your remaining loan balance will be compared with your vehicle’s trade-in value to determine whether you have positive or negative equity.
Do I need to buy another vehicle to trade mine in?
Your available options can vary, so it’s best to speak with the dealership about whether you’re looking to trade, sell, or replace your current vehicle.
Where can I get my car appraised near Tinley Park, IL?
Drivers in Tinley Park, Orland Park, Frankfort, Mokena, and surrounding Chicago suburbs can contact Apple Chevrolet to learn more about their current vehicle’s value and available trade-in options.
Get Your Vehicle Trade-In Value at Apple Chevrolet in Tinley Park, IL
If you’re asking “Should I trade in my car?”, knowing what your current vehicle is worth is a great place to start.
At Apple Chevrolet in Tinley Park, Illinois, our team can evaluate your car, truck, or SUV and help you understand its current trade-in value. We can also help you compare your current vehicle with available new Chevy models and pre-owned vehicles to determine what fits your needs and budget.
Whether you’re ready to trade today or you’re simply researching your options, Apple Chevrolet is here to help you make an informed decision.
Find out what your vehicle is worth and explore your trade-in options at our Tinley Park Chevrolet dealership.
