Wondering if it might be time to say goodbye to your current car? Whether you’re fond of your vehicle or ready to say “good riddance,” it can be hard to determine the ideal time to trade in. You want to get the best possible price for your model with the least amount of hassle — and that’s where Greensboro Honda comes in. We buy used cars, and we want to make your trade-in process as easy as possible. Our team has put together a list of surefire signs it’s time to trade, so keep reading to learn more. Not sure how much your car is worth? Get your Kelley Blue Book® Trade-In Value on our website now.
It’s Time to Trade in When...
Repair Costs > Vehicle Value
It’s easy to think, “I’m not ready to sell my car — it’s still running!” But are your repair costs outweighing the value of your vehicle? If your car needs a new engine or transmission or extensive body work, it might be more cost-effective to trade in. You don’t want to continue sinking money into a vehicle that will continue to break down, leading you to spend more on repairs than the car is worth.
You Want to Lower the Cost of an Upgrade
Trading in your car can help you save money on a new Honda or used vehicle from our inventory! When you bring your car to us, we’ll make you an offer that you can apply toward the cost of your upgrade. This will help you get behind the wheel of something new (or new-to-you) without breaking the bank. Ready to get started? Get your Honda trade in value today!
You’re Upside Down on Your Loan
If you owe more on your car than it is worth, you have negative equity. This is also known as being “upside down” on your loan. Although this is a stressful situation to be in, trading in can be a viable solution if your current car is unreliable and requires frequent repairs. However, keep in mind that the remaining loan balance will still need to be paid off, and since your balance is higher than your car’s value, the amount you receive for your trade won’t be enough to pay off your loan in full. If you have additional funds on hand, you can combine them with a dealer’s offer, pay off your loan, and start fresh with a new vehicle — but keep in mind that this may require you to make a lower down payment on your upgrade. If you’re in this situation and you have questions, give our friendly finance team a call.
You’re Ready for Something New!
Finally, a good reason to trade is simply the desire for something new! If you’re ready to upgrade to the cutting-edge safety systems, up-to-date technology, and modern design of a brand-new Honda, now’s the time to trade in your car and level up. Not looking for something new? You can trade in for one of our high-quality used vehicles or a top-tier Certified Pre-Owned Honda. And don’t forget: You’ll receive our Lifetime Warranty on your purchase of a new or qualifying used vehicle! Wondering how to get the best offer for your car? Well, just by choosing Greensboro Honda, you’re guaranteed to get a great offer, but there are other ways to ensure that you get the most for your ride. Nerd Wallet recommends taking the time to thoroughly clean and spruce up your car, shop around for trade quotes, and be thorough in your negotiations. Today is a great time to get started, and if you have any questions about your car trade-in value, don’t hesitate to contact us.