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How long should you keep your car before selling?
How long should you keep a car before trading in? Ideally, you want to keep a car for a few years after it is paid off before you trade it in. This way, you get to enjoy the benefits of ownership. If you can’t or aren’t willing to wait that long, at least make sure you have positive equity in the loan.
How long should you keep your car?
In general, however, people don’t really keep their cars forever. Research by R.L. Polk says that the average age of a modern vehicle is 11.4 years, while the average length of time drivers keep a new vehicle is 71.4 months — around 6 years. So even if you plan to own a car forever, the statistics are against you.
Should I sell my old car or keep it?
If you really want to really save money on a new car, don’t sell your old one. Keep driving it and you save money not only because you don’t have to make payments on a new car, but also because insurance premiums are lower, and in some states, so are registration fees and personal-property taxes.
How many years can a car last?
Now, you can expect a standard car to last around 12 years or about 200,000 miles. More advanced vehicles like electric cars can go even longer, up to 300,000 miles. Not too long ago, you could expect a car’s lifespan to be around eight years and 150,000 miles.
How long should you keep a new car before selling it?
To make the most of a new car, you may want to keep it for as long as you can. It’s unlikely to be financially viable to sell it after the first or second year it’s been on the road. If you’re driving a used car, since a large chunk of depreciation is already knocked off, you’ll be competing with other used cars.
When is the best time of year to sell a car?
Depending on your location, SUVs and 4x4s sell best in the fall and winter months, although in a sunny warm climate like San Diego, it’s more a matter of what people want to drive than weather conditions. If SUVs are a popular choice, the time of year you sell is less important.
How many miles should a used car have before it’s worth anything?
Even the 100,000-mile mark is not a value-killer as long as the car is in good shape. The truth is, there is no magic number. And dealers are already flush with low-mileage used cars that have come off leases, so they’re not in a rush to add more to their lots. What matters more is the model year.
How many miles can you save by trading in your car?
If you average 16 miles per gallon, your savings would buy enough gas for 10,295 miles. If you’re able to drive your car for 10 years instead of trading in after five, the money you save could buy about 102,955 miles worth of gasoline.