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My Lexus ES, which I bought new, will be three years old in July. By then, it will have about 35,000 miles on it. There is a sweet spot for selling your car to get the most out of it but I'm not sure when that is. You don't want to wait until it hits 100,000 miles. Some say to keep it as long as it runs but I am not looking forward to driving around a 10 year old car, even if it's a Lexus.
My car does not define me. I have a 2017 Subaru Outback with 23,000 miles on it. I love driving it now, and I'll likely still love driving it in 10 years. Some people consider cars to be status symbols, and need a cream puff with low miles. Some don't. I love the technology in the car: interactive cruise control, side mirrors that light up when another car is along side you, back up camera, one finger press back gate lift, heated seats, all wheel drive. There is more, but it's enough for me.
Depends highly on the make/model of the car along with other variables.
If you want a new car, just go get a new car. Jusifying it by cost/value is going to make your head spin trying to determine if all the new fees and taxes and new car cost puts you ahead of trying to outpace the depreciation of your vehicle.
35K miles is just getting broken in. How soon before the car is paid off? Driving it another 3 years might mean 2 years of no-payments and an equally reliable vehicle. Bank some money for those 2 years and then trade it in.
Really...nobody here can tell you what to do. It's your decision
My Lexus ES, which I bought new, will be three years old in July. By then, it will have about 35,000 miles on it. There is a sweet spot for selling your car to get the most out of it but I'm not sure when that is. You don't want to wait until it hits 100,000 miles. Some say to keep it as long as it runs but I am not looking forward to driving around a 10 year old car, even if it's a Lexus.
When it gets to 90K, because, you are still technically selling a car with under 100K. Most banks and credit unions will not finance a car over 5-7yrs old, so you cut down half the buyers in half when you get over that age and mileage. Plus at 90-100K, a car typically needs, new plugs, transmission fluid flush, coolant flush, might be time for a battery, set of tiers and some more brakes and sometimes struts too, so I sold my 2009 car in 2013 with 90K and got like $7500 for it in a trade, but I knew within the next year the car was going to need close to $2000 in mandatory upkeep, so I came out ahead. The dealer resold the car 10days later for $11K though.
The best time is when you're ready to trade it. Period. If you try to time it out to get the perfect balance of value for cost and return you'll drive yourself crazy.
The best time is when you're ready to trade it. Period. If you try to time it out to get the perfect balance of value for cost and return you'll drive yourself crazy.
End thread.
There flat out is no best time. You want maximum dollar value? NOW is the best time. Period. There is no magic number.
I'm the frugal guy that will buy your late model car with low miles.
I'm looking for way less than 100k, under 50k miles would be great.
A late enough model to have some of the drive train warranty remaining would be nice.
Last year I bought a 2010 4wd Toyota with 30k miles on it, "a creampuff" , everything like new, engine barely broken in.
The only thing worn down on the vehicle was the price.
Last edited by royalabran; 01-25-2019 at 10:44 AM..
Reason: add a sentence on price
My car does not define me. I have a 2017 Subaru Outback with 23,000 miles on it. I love driving it now, and I'll likely still love driving it in 10 years. Some people consider cars to be status symbols, and need a cream puff with low miles. Some don't. I love the technology in the car: interactive cruise control, side mirrors that light up when another car is along side you, back up camera, one finger press back gate lift, heated seats, all wheel drive. There is more, but it's enough for me.
Do you realize the only reason you have all these goodies is that you bought a new car? Imagine what you had if you were driving a 2007 model.
Imagine what you had if you were driving a 2007 model.
Lots of money in the bank?
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