Best Trade In Value

[Joe Johnston]

I would like opinions on when would the best trade in value be achieved? I currently have a 07 Denali (18,000 m) and will keep it for some time but would it be best to trade in 2,3,or 4 years? With a balance of warranty remaining, or not? Run a vehicle till it just wont go for 10 - 12 years? (honestly I get tired of a vehicle after about 5, but have had some over 12) I've been checking the online values and realize the biggest hit for depreciation is the first year, but in the 3 - 4 year and longer timeframe, mileage seems to be the biggest factor. I can't see the advantage in leasing even though I drive less than 15,000 mi/yr but I feel as though I must be missing something since leasing is so popular and out right cash purchases are not. Someone give me some insight and point out what I'm missing. Thanks in advance. J

[Silverado4x4]

I leased a vehicle once and will never do it again, long story short is you are really renting the vehicle cause its not in your name, the registration will say your leasing company then in care of your name. Putting money down on a lease is sinceless cause you will never get that money back but yes you will have a lower monthly payment. The leasing company will call you around the last 12-14 payments left to find out how many miles are on the vehicle, sucks. I usally dump my vehicles after 3-4 years because iam the same way I just get tired of them and am ready for something differant.

[SilveradoCJ7]

Under 70K miles and before the truck is 5 years old. Mainly because the next person that buys it will need to finance it and some banks will not give good rates or even finance a truck older or with more miles.

 

Plus not many people look on lots for trucks with over 70K miles.

[SilveradoCJ7]

I leased a vehicle once and will never do it again, long story short is you are really renting the vehicle cause its not in your name, the registration will say your leasing company then in care of your name. Putting money down on a lease is sinceless cause you will never get that money back but yes you will have a lower monthly payment. The leasing company will call you around the last 12-14 payments left to find out how many miles are on the vehicle, sucks. I usally dump my vehicles after 3-4 years because iam the same way I just get tired of them and am ready for something differant.

 

If you are going to keep a car or truck less then 3 years a lease IS a good option. Most Demestic buys that trade in before that are negative on equity unless they use a down payment.

[pm26]

The best time to trade in a vehicle is after 3 years, with just a few thousand miles left on the factory warranty. This is big plus to the dealer taking it on trade because they can use the factory warranty to fix any problem that may surface and also sell the truck at a higher price because it has some warranty remaining and is eligible for an extended warranty, which they will try very hard to sell to the next customer who buys that vehicle. Of course, if you drive a lot, then you will have no warranty left on the vehicle by the third year and maybe you are better off trading every two years.

 

The depreciation seems to be the least severe at the end of the three year period and most people will not be upside down on their vehicle at that point.