Mileage Factors and Trading in a Car

 

D&M Leasing pic
D&M Leasing
Image: dmautoleasing.com

Originally formed in 1976, D&M Auto Leasing today reaches thousands of customers across the country. In addition to providing plenty of options for people looking for a new car, D&M Auto Leasing also works with them to help them determine the best time to do a trade-in.

When considering whether or not to trade your car in for a new vehicle, consider the car’s mileage. The distance the car has been driven over its life is a key determinant of the market value the car can receive, and can serve as an indicator of likelihood of future repairs as well.

For instance, cars under 40,000 miles on them can command an excellent trade-in or sale price. In fact, around 36,000 miles may be the best time to do this type of transaction. Many vehicle warranties expire at around this time, as they assume the car has been driven about 12,000 miles annually for three years. Additionally, close to this period of time, the car may begin to require non-routine maintenance for parts of the car such as the tires and brakes, making a trade in for a different car especially compelling.

As the car gets older, reaching the 60,000 to 70,000 mile mark, repair expenses and unexpected costs tend to become larger. Many people think it’s a good idea to hold onto their vehicles longer, putting over 100,000 miles on them, rather than trade. However, they need to keep in mind that eventually a great deal of parts will need to be replaced, and it might be better to start over with a new car than deal with the cost of maintaining an aging car.

Signs You Need to Trade an Old Car

 D&M Auto Leasing pic
D&M Auto Leasing
Image: dmautoleasing.com

Based in Texas, D&M Auto Leasing provides quality services for its thousands of customers. For instance, D&M Auto Leasing strives to make getting a leased car straightforward and convenient.

Many people might feel hesitant to let go of a car that they’ve had for a while. They might mistakenly think that they can’t afford a newer vehicle, or they may think that doing so is too complicated. However, there are a number of instances where it makes good sense to make the switch.

A key reason is that as a car ages, it depreciates in value, while at the same time requiring more upkeep. A possible indicator of this becoming a problem is the check engine light. Many people notice that this light has come on and take the car to be checked out, only to have a service technician be unable to identify or fix the problem. They then decide to just ignore the light on the dash. While pretending the problem isn’t there can seem easier, it can lead to more serious problems, even a breakdown. Dangerous and costly, breakdowns are a clear sign that you would benefit from a replacement vehicle.

In addition to considering the rising maintenance costs of older cars, think about the cost of gas. Many older cars require much more gasoline than new, more gas-efficient models, and with prices often going up, this can take a toll on your finances. Finally, you may begin to worry at inspection time that your older car will not pass. If you dread taking your car in because you suspect they will find a problem, a newer car can provide you with peace of mind.