Expert: Ray Paulsen - 9/24/2009

Question
I just bought a black 2009 mazda 3 hatchback at the end of April.  I work an hour and a half a way from home and drive back and forth 3 days a week.  I go to school 2 days a week which is about 40 minutes each way.
My question is before the end of the year, my car will be at almost 15,000 miles and I will owe about 17,000.  Should I trade in the car before it goes over 15,000 in the first year for best resale price?  I know cars should average about 15,000 highway miles a year, that is why I am asking?  Thank you for any information you can provide?

Answer
Hi Juan,

If you bought the car brand new ?, your depreciation factor could be as high as 30% from what you paid out the door, to trade in the first year you will be out of pocket heavy no matter the miles, the third year you will be on a more level playing field to trade.

You did not mention your zip or postal code ? new or used ? model - options - auto or manual ? you provide answers to these questions and I will tell you present worth for your location.

Ray  
 http://www.usedcartips.org/