A new or pre-owned Mazda sports car can be very tempting. As you hear that siren’s call, you might think of trading in your current vehicle for something with a bit more spring in its step. Whether you should is a little more complicated.
When to Trade In a Used Car
This is not as complex a question as it may seem, as long as you remember that data rather than impulse should drive your decision to trade in a used car. Your first data point will come from our online trade-in tool. If the estimated trade-in value will lower your monthly payment on your next vehicle, that’s a good sign.
It’s also worthwhile to factor in maintenance costs. If your current car is usually reliable but is slowly bleeding you dry in minor repairs — spending more time in the mechanic’s garage than yours — a trade-in can represent a smart way to cut your losses.
When Not To Trade in a Used Car
Sometimes your car may have an excellent trade-in value, but a trade is still a bad idea. Case in point: if you still owe a lot on your vehicle, trading in may merely represent breaking even rather than putting money in your pocket. Similarly, early lease termination tends to cause more financial headaches than it’s worth for many drivers.
If you’re struggling to make sense of your options before buying or leasing a car, speak to the Mazda finance professionals at Brown and Wood Mazda. Our finance team can help you make a choice that makes sense in your situation.
