Let’s say you’ve had a vehicle for a few years, and now you’re ready to move on to something new. You probably want to go to a dealership and turn in your old ride to put the cost towards your next vehicle, but you might be unsure how the trade-in value of your old car will be determined. According to the experts at CarsDirect.com, different factors go into determining how much the dealer will pay for your vehicle such as:
The year of your car will play a big role in its trade-in value. Typically, older cars have less value than newer ones.
Make and model
Some brands and nameplates hold their value better than others. For example, sports cars will usually sell for more than a sedan from the same brand.
If your vehicle has been well-maintained and/or has low miles on the odometer, it will likely sell better than a more damaged car that has been driven a lot.
Some cars are just more popular than others. Dealers know that more popular vehicles will sell faster, so they’re willing to pay more from the get-go.
If you have a used vehicle and you’re wondering what kind of trade-in value you can get for it, don’t hesitate to contact us at Pollard Used Cars in Lubbock; we would be happy to assess your vehicle’s trade-in value.
When you drive a new car off the lot immediately after purchase, you automatically lose a significant portion of its value due to depreciation. This is one of the major reasons that so many drivers decide to buy used models—they do not suffer the same major depreciation that new cars do upon purchase.
But if you’re buying used at Pollard Used Cars in Lubbock, how do you know which car to choose? A common way to choose a solid used daily driver is to look at which models retain their value the best. Websites like Edmunds, KBB.com, and more hand out awards every year to models that have the fewest mechanical issues and retain their value the best over three to five year timelines.
Top Cars That Retain Value
If you’re in the market for a used sedan or a used coupe, you’ll want to consider some of the following models, which have frequently won retained value awards in the last few years:
- Ford Mustang
- Honda Civic
- Honda Fit
- Lexus GS
- Nissan Altima
- Porsche Panamera
- Subaru Impreza
- Subaru Legacy
- Subaru WRX
- Toyota Camry
Top Trucks, Vans, and SUVs That Retain Value
If you are instead looking for a used truck, used van, or used SUV, take a look at the list of the following models, which retain value better over the years:
- Audi Q7
- Chevrolet Suburban
- GMC Acadia
- Honda CR-V
- Honda HR-V
- Honda Odyssey
- Jeep Wrangler
- Lexus GX
- Ram 2500
- Toyota FJ Cruiser
- Toyota Highlander
- Toyota Tacoma
- Toyota Tundra
How to Retain Your Car’s Value
Want to ensure a better resale price down the road? Follow these steps to retain your car’s value:
- Wash and wax it regularly, and store it in a garage.
- Stay current with all maintenance.
- Don’t smoke or keep trash in the car.
- Drive it well, with minimal rapid acceleration and hard stops.
Valentine’s Day is right around the corner but there’s still time to plan the perfect Valentine’s date! While an evening’s activities will vary by the couple, dinner is certainly on the menu. Lubbock has quite a few great eateries that make a special occasion out of February 14th. We here at Pollard Used Cars have a few recommended Valentine’s Day places to visit in Lubbock, Texas.
- Ohana Japanese Steak House – The family-friendly atmosphere of the Ohana Japanese Steak House makes for the perfect Valentine’s Day dinner date. Serving delectable dishes of sweet and sour food, the restaurant is widely regarded as the best sushi joint in Lubbock.
- Stella’s – Originally founded in 1973 in New York, Stella Rizzo created a name for herself as one of the finest Italian eateries in the business. Her son moved the restaurant to Lubbock. It quickly became a local hotspot known for its live entertainment, Italian cuisine, and lounge area, all of which make for an unforgettable Valentine’s Day.
- Harrigan’s Prime Grill – Created as a hangout for friends and family, Harrigan’s Prime Grill has grown to become one of the most welcoming restaurants in Lubbock. The friendly staff and warm welcome are just the appetizer to the incredible food!
Let us know if you have plan to use any of these ideas. All of us at Pollard Used Cars in Lubbock, TX would love to hear about it!