Trading in your car could be worth it in some situations, but there are some things to consider.
Whether you want to upgrade to a newer model or simply reduce the number of vehicles parked in your driveway, you might be wondering whether you should trade in your car right now.
“Consumers are paying near top dollar for new vehicles as prices remain high and incentives fall to a record low,” said Cox Automotive executive analyst Michelle Krebs. If you aren’t looking to buy a new car and have long been debating selling off an extra car, it’s probably a great time to trade it in. Dealers will happily buy just about any car right now, and it doesn’t matter to them if you simply want to hand over the keys in exchange for a check.See: Dealers are desperate to get their hands on your leased car—how you might make that pay off
If you can squeeze a little more time out of your car, even with a lease extension that the financial institution might be willing to offer, you should consider hanging onto it.
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