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.