Trading or Upgrading – When Is the Best Time to Do It in Butler, PA?

When to Trade in or Upgrade to a New Honda in Butler, PA

As much as vehicles are made to last for years, some circumstances will require you to trade in or upgrade your sedan, SUV, or truck. Perhaps your family is growing, and you need more space. Or, maybe your driving needs have changed. Whatever the reason, evaluating your options and making decisions based on your preferences, budget, and lifestyle is crucial.

In addition, consider the best time to trade in or upgrade your vehicle. Honda North has created a comprehensive guide to help you determine when to upgrade or trade in your car. Need assistance? Visit our dealership and speak with our Honda experts.

Is It Time to Trade?

Here are some tips to help you decide if trading in your vehicle is right for you.

Assess Your Finances

While there is no set time when you should trade in your vehicle, waiting until you have built up some equity is a good idea. Simply put, you've built considerable equity in your car through loan payments. On the other hand, negative equity occurs when you owe more than the car is worth, which could lead to an out-of-pocket expense during a trade.

Check Your Car's Warranty

Keep an eye on your car's warranty expiration date. Trade-in offers may be lower when your vehicle is out of warranty. The bumper-to-bumper warranty typically expires after 3 years or 36,000 miles, while the powertrain warranty lasts 5 years or 60,000 miles. Be aware of those time frames if you are considering trading in.

Consider Your Maintenance Schedules

Investing hundreds of dollars in routine maintenance, such as new brakes and tires, only to trade it in later does not make financial sense. If your car is in good shape and you have kept up with its regular maintenance, you may want to trade it in before your next major milestone.

Watch Out for Your Car's Mileage

It is important to consider mileage when estimating the vehicle’s value. As a car reaches 250,000 miles or more than the average mileage for its model and make, its value will begin to decline steeply. In general, most drivers drive 12,000–15,000 miles annually. If you exceed this average, you can expect your vehicle's value to decrease by 10%.

When Should You Upgrade?

Here are some of the most ideal times of the year to visit the dealership:

End of the Month

You can find great deals if you shop at the end of the month. Most sales teams operate with monthly quotas. Toward the end of the month, they focus on achieving their goals and thus tend to offer more competitive prices.

End of the Year

The end of the year is also an excellent time to visit dealerships. This is when salespeople focus on meeting their monthly quotas and quarterly and annual goals. Thus, they offer discounts and year-end specials to attract buyers.

New Model Year

Consider purchasing your next car at the same time as next year's models are released. There is a good chance that dealers will move existing inventory to make room for new arrivals, leading to substantial savings.

Trade-In or Buy a New Honda Car at Honda North

At Honda North, we want to make your trip to Butler, PA, enjoyable and hassle-free. Visit our Honda dealership to test drive a model or inquire about trading in your old car.