Owning a vehicle is a big responsibility and eventually you will have to decide at what point you are willing to trade-in or sell your vehicle. It can be difficult to decide when it is the right time to sell your vehicle. There are many factors that come into play. Some of these factors include age of the vehicle, mileage, your own financial situation and many other circumstances. It can get complicated trying to figure out the right time to get a new vehicle, which is why we're here to help. We're going to give you a step-by-step guide to help you answer the question, "When it the right time to sell my car?".
Step 1: Find Out the Value of Your Vehicle
A good way to start this process is by determining what your vehicle is worth. There are a variety of ways to do this, including the trade-in value tool we have here at Toyota Palo Alto. All you have to do is fill in the year, make, model, trim level, color, mileage and condition. Once you have this all filled in, the program can give you an estimation for what your vehicle is worth with zero commitment.
Step 2: Determine the 'Cost to Keep'
If your vehicle needs a few repairs to keep it on the road, you should bring it to the Toyota Palo Alto service experts to give you an estimate for the repair costs. Figure out how much it will cost to keep your vehicle running for another year.
Step 3: Calculate and Compare
Add the cost of potential repairs and maintenance you'll have over the next year and compare it to the trade-in value of your vehicle. If you'll spend more on repairs than what the vehicle is worth, it might be time to trade it in for a new ride.
Whether you decide to trade-in your vehicle or repair it, Toyota Palo Alto is here to help. Our service department is always just a call or click away. They can help will routine maintenance, big repairs or anything inbetween. We can also help you value your trade and find a new vehicle that better matches your driving needs. Call or visit Toyota Palo Alto today for more information on how we can help you keep your current vehicle, or purchase a new one!