It’s a lot of money to shell out for a new set of wheels, and it can make you wonder whether or not it’s time to sell your current vehicle. By looking at how far you can get with your current car, you might find that you have more cash in your pocket than expected. Here are three different mileage levels to help you determine when to sell based on mileage.
A) If you drive less than 10,000 miles per year: You should consider selling your car if it has over 100,000 miles. At 100k miles, cars begin to lose their value quickly and may cost more to maintain than they’re worth.
B) If you drive between 10-15,000 miles per year: You should consider selling your car if it has between 75-100k miles. This is around average for most people, and while there’s still some depreciation left to go, you could still come out ahead by selling now.
C) If you drive more than 15,000 miles per year: You should consider selling your car if it has 50-75k miles. Cars that are driven frequently tend to hold their value better than those used only occasionally—but there is still some depreciation after 50k miles. At 75k miles, you’re starting to get into high mileage territory and may want to consider upgrading or selling your current vehicle.
It’s important to remember that a car with lower mileage doesn’t necessarily mean higher resale value. The condition of your vehicle will play a big role in how much money you can get for it, so take care of your ride! Keep up with regular maintenance (oil changes, tire rotations, etc.) and stay on top of any issues before they become serious problems.