Posted By Admin On August 28, 2015
The late, great B.B. King wasn’t the first to record his signature song “The Thrill is Gone,” but he made it his own. King wasn’t singing about a car in his first Grammy-winning record from 1970, but he might as well have been.
There’s an ill-defined moment in every relationship when what was once new and exciting becomes old. Unlike the sometimes-unpleasant personal issues that can accompany a personal breakup, the end of a relationship with a car is an opportunity to get nicer features, and a better driving experience than the old car offered. In other words, you won’t break a car’s heart by trading it in for something else.
But how can you know when that moment arrives? For starters, if you’re leasing a car it rarely, if ever, makes sense to bow out before the terms are fulfilled. Car dealers understand about the wanderlust for a newer model, and they write pretty stiff cancellation fees into leasing contracts. So don’t think about leaving your leased car until the time comes.
But if the car is bought and paid for, one good time to sell or trade in your car, is while it still runs well. Nobody can foresee the future, but waiting until the clutch gives out or the transmission goes bad isn’t a good idea. Not only will you have to sink money into a car you won’t be driving forever, but you’re giving the next buyer something to extend the life of the car, on your nickel. The old adage “get while the getting’s good” most certainly applies to cars.
Another time to get out is before a psychological milestone in mileage occurs. Miles are the currency of a car that everyone understands. “Low mileage” means different things to different people, but 30,000 miles is better for resale purposes than 50,000 miles ever could be. Maybe it’s a “gently driven” 50,000 miles, but it’s still 50,000 miles. No amount of verbal finesse on the seller’s part can change that fact.
Go through the want ads of a newspaper or a website sometimes. The year and make and model are always going to be the first thing presented in an ad (‘78 Chevy Corvette, for example), and the mileage comes immediately after that. If the car has 25,000 miles on it after almost four decades on the road, it’s a sign that it’s still got a lot of miles in it.
But the reverse is also true when it comes to mileage. 95,000 miles on a car that’s almost forty years old may not sound like a lot, but a potential buyer–who doesn’t happen to be a Corvette collector–is going to be wary. Not only are parts for a car that age–another important consideration when purchasing an older car–nearly impossible to come by, but cars aren’t built to last forever. The more miles on a car, the greater the likelihood that something will need replacing before too long.
There’s no time like the present, once you’ve decided that you and your ride will be parting ways. And then it’s on to whatever the next thrill will be. Make sure you make the proper repairs before selling or trading in your used car. You can also trade-in your vehicle when leasing a new vehicle, the value can be added to your down payment. Find out what your personal car shopper can do for you, only at MrCarShopper.com.