Von Schledorn Auto Group Official Blog
When Should You Sell Your Old Car?
By Product Expert | Posted in Tips and Info on Friday, October 14th, 2022 at 7:23 am
3 Reasons Why You Should Sell Your Old Car
A significant financial choice is purchasing a car. And you shouldn’t take it lightly. Despite common belief and practice, it is possible to live a whole life without making a regular car payment. However, it requires discipline. As the saying goes, you’ll probably continue to drive your current vehicle until the wheels come off. But regardless of how dependable your car is, it probably needs to be replaced sooner or later. Is it time to buy a new car, then? Or should you invest some cash in repairs and keep going for a few thousand more miles? Keep reading the blog post by Eric Von Schledorn Auto Group in Milwaukee, WI to learn more about the reasons why you should sell your old car.
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Older Car, Lesser Value Â
A new car loses a significant portion of its value within the first three to four years—a process known as depreciation—which explains why a used car is less expensive than a new one. After that, the depreciation rate slows down significantly, but the value continues to decline over time. To get the most value for your money, buying a car that is two to three years old is ideal, and keeping it for another three.
How Much Are You Spending on Maintenance?
Here are a few general guidelines to help you determine whether maintaining an older vehicle costs you too much. But ultimately, this is partly your decision. Keeping a vehicle, you love and find reasonably reliable and paid off for may make financial sense. But eventually, you’ll need to take a step back and decide whether the money you’re spending on maintenance is necessary.
Brittle Plastics and Interior Fabrics Â
In addition to the obvious signs, the degradation of the interior components also reveals the age of your car. You’ll know you’ve abused it to the point where toggle switch symbols are lost, Chrome bits are fading, and the interior fabric is showing signs of cracking.
Using this as the only justification for selling your old vehicle would be absurd. However, if this factor is added to a few others, it certainly strengthens the argument.
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Contact or visit Eric Von Schledorn Auto Group in Milwaukee, WI, today, and our sales team will be glad to give you a tour.
