Overhaulin'

What is the most cost effective year to sell car that I have owned since it was new?

I have paid for my car in full but it is only 3 years old. I would like to get a car that I like better, but I am concerned about throwing money away. How long should I own my current car before I sell it?

Public Comments

1. Why not right now, the longer you keep the car the more it will depreciate and if it is an American brand, you probably already lost about 30% of the car's resale value.
2. Your best bet is 2-4 years old. But, mileage will also play a factor in that, as well as the cars desirability as a used car. Check a few of the lots to see if they have these cars. If they have a few, sell. If they have a lot, you need to see if those are moving quickly or are sitting.
3. I understand you want to change your car for newer one, that is different. So point is to ask yourself what the cost/benefit relationship of the new car in relation to the previous one will be. Generally the write-off you have on your car is the most important cost item you have on car. So the cheapest car becomes the you drive until it is dead provided you still get spare parts. But if there are significant cost savings with new car an immidiate change can be advisable. The balance between this two extremes you have to make for your-self by listing the costs and the benefits of both possibilities. If this balance is slightly in favor of a change, it is probably best to change a car in the year before the car company makes significant redesigns to their newest model. In the following year your car becomes an "older" design. This can be reversed when you buy new car and one month later the car company announces a major redesign. So what?: Get informed before you make your choices.
4. now get ride of it, and get what you want.