Signs It’s Time to Trade In or Upgrade Your Car in Allentown, PA

You may eventually think about trading in or upgrading your vehicle. The timing is crucial, whether you seek an upgrade for reasons related to safety and reliability or desire something new. If you're uncertain when to make such a move, the sales experts at Scott Family of Dealerships in Allentown, PA, have put together these helpful tips.

The Right Time to Trade In Your Vehicle

When You Have Positive Equity

There are no hard and fast rules about the best times to trade in your vehicle, but it is wise to avoid making the change until you have built up some positive equity. This means that you have paid off a significant amount of your loan. If you still have payments remaining, don't worry. Many people trade in cars while they’re still under finance, as dealers will often pay out more than the outstanding loan balance. You can certainly trade in your car at any point, but it’s best to do so when you think you’ll be getting more than what’s owed or have positive equity.

When Your Warranty Is About to Expire

Keep an eye on the expiry of your car’s warranty. Waiting too long can seriously cut your trade-in value since dealers may offer less for vehicles out of warranty. The time frame for bumper-to-bumper warranties usually lapses roughly three years after the sale, while powertrain warranties may not lapse for five to six years. Be aware of that window if you’re thinking of trading in.

Before You Exceed Your Average Mileage

Mileage is one of the most significant factors in determining your car's value. After it crosses the 250,000-miles mark or is above the average mileage for its make and model, prepare for a steep drop in value. About 25,000 miles a year is considered normal by most drivers. For drivers who exceed this average, expect at least a 10% reduction in your vehicle’s value.

The Right Time to Upgrade Your Vehicle

Shop Toward the End of the Month

You can find excellent deals if you shop toward the end of the month. Sales teams typically operate with monthly quotas. So, as the month comes to a close, the likelihood of more favorable prices is higher as they strive to achieve their objectives.

Shop Later in the Year

It is also a good idea to frequent dealerships toward the end of the year. Salespeople focus on closing their month-end quotas and annual and quarterly goals during this time. Typically, sale events late in the year feature great discounts.

Keep an Eye Out for Next Year's Models

Think about timing your purchase for when next year's models hit the market. Dealerships will be eager to sell off their existing stock to make way for new arrivals, which can lead to substantial savings for you.

Trade-In Your Vehicle at Scott Family of Dealerships

If you're ready to trade in your car and enhance your ride, find a reputable dealership to guide you through this significant choice. For those in Allentown, PA, the team at Scott Family of Dealerships is ready to ensure your experience is smooth and enjoyable. Visit our trusted Cadillac dealership today.