My 2002 Accent, with 25,000 miles, is worth only £1800 as a trade-in against a new one (currently £5500 locally.) That means I've lost £100 a month since I bought it new. I assume that next year at this time it'll be worth about £1000 if I'm lucky. So the question is; Is this the best time to trade for a new one while my car is worth something? Or do I hang on? Your views would be appreciated. Hippo.

 

Hippo,
Only 25,000 miles?? Not bad. If your happy with the car, keep it. If not trade it in. It's a matter of personal choice. However, the next question should be....Are ya gettin' another Hyundai?? Good Luck!!
Brant

 

If you are going to trade it in do it as soon as possible. Automobiles are the fastest items in the world to depriciate in value.

 

Poacher,
Ahhhhh, very good point indeed and thats a fact. Now unless your drivin' a Jeep. They keep their value very well.
Brant

 

Or a Vette......

 

Or a Skyline. (Mmmm...R34)

 

What the hell is a Skyline....mmmR34?? LOL!!!
Brant

 

Hi Brant, Poacher and all:

Thanks for your ideas - but I think there's a philosophical point here that I can't quite work out: If I trade in for a new one, I'll lose £100 a month on my new car. But if I stay put, I lose £100 a month on my old car. There must be a big reason why one route is better than the other, but I'm blowed if I can work it out.

And Brant: Yes, I would buy another Hyundai, but not from the same dealer, whose aftersales care, if you have a problem, is ****.

Hippo

 

Oh my dear Brant,

A R34 Nissan Skyline V-spec II Nur, is my favorite car in the entire world. They are amazingly rare in the US and are oh so beautiful and fast and mean and stuff. Google it and look for yourself.

 

Hippo,

Sorry I got caught up in Skyline land. I would say keeping the car you have now is the smart choice. It really isn't that old, runs good, you are familiar with it, and you can spend the money on customizing yours instead of dumping it into a new one.