I tend to have my cars until the very last vrooom is taken. It isn’t because I have a sentimental attachment to my cars. It isn’t even because I want to get every last bit of value out of my car. It is because up until I got the car I have now, the cars I bought were very old, I was awful at doing the routine maintenance that I need to make my cars last longer, and I also didn’t know how to do some of the less expensive repairs on my own. So once a car started to break down often, it was cheaper and easier for me to replace it.
Most people plan to drive their car for more than 5 years or so and some plan on driving their car into the ground. If you are leasing your car, or if you are planning on owning the car you have for a short time, you are most likely looking forward to trading it in and getting a newer car. There are great reasons to head to dealerships like Button Dodge, in Kokomo Indiana, to trade in your car for a new vehicle.
If the car you are driving in now is not paid off and still under load, dealerships can help you get the current loan paid, while rolling the difference into the loan you will be getting with the new vehicle. It gives a nice bump to your credit score, because the old loan is marked as paid. It is also a way to get into a new car without having to worry about getting the loan paid off first.
When you trade in a car that still has some life in it, it is a great way to reduce the over all value of the loan you are trying to take out for the new car. The old car can often be used towards the down payment, which means that you are required to have less money out of pocket. It is a great way to save on the cost of the car.
Since you are taxed on the total price of the car, when you use your car as a trade in, you save money on the taxes. The value of the car is lowered and that means you are taxed less.
Selling a car can be a pain. By trading the car in, there is no hassle. You do not have to list the car, deal with buyers, answer emails and calls, and people trying to get a lower price. You settle on a price with the dealership and you are on your way