Car Buying Advice - Best time to trade in 2014 CR-V

buckeye9906buckeye9906 Member Posts: 10
edited August 2017 in Honda
Hi guys,
I was hoping to get some advice from the experts here.

I have a 2014 CR-V EX-L with about 33500 miles driven. Have been thinking of up-sizing to a CPO Pilot or Odyssey. The thing is that there is no real urgency. Just trying to time it right so that we get the most return on the CR-V. In you guys' opinion, what is the best time to trade in? I've heard people say between 30-40k miles is ideal. Also the CR-V is not paid off yet. Is it better to wait till its paid off? What would you guys suggest?

Thanks in advance for your help!

Comments

  • MichaellMichaell ColoradoModerator Posts: 206,508
    Let me get our experts over here to offer up some advice.

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  • graphicguygraphicguy Edmunds Poster EmeritusMember Posts: 13,459
    It's always better to have the car paid off when dealing. Is it leased? If so, you probably have negative equity and will have to roll over that money to the new vehicle. That's not necessarily a good idea, as you end up paying some amount of monies for a car you no longer own.

    If you still have a loan on the CR-V, and you bought it new, you are probably OK with no negative equity.

    Aside from that, is it imperative (family is getting bigger, for example) that you need a larger vehicle?

    There's no magic mileage number on when the best time is to trade. You'll get very little argument that the best time to trade is after you've totally run the wheels off the car you currently have.

    Cars are worth what they're worth. Lower mileage cars are worth more than higher mileage cars. For the age (3 years old), you are on the low side of normal mileage. Not sure if that will make a whole lot of difference.

    The good news is, Hondas (and Acuras) typically hold their value quite well.
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  • tbirdmarcotbirdmarco new yorkMember Posts: 3,838
    end of the Munth is car leesed or financed!
  • buckeye9906buckeye9906 Member Posts: 10
    Thanks a lot guys! The car is financed and currently no negative equity.
    I got one trade-in offer for about $4k more than I owe.

    Right now, it is not critical to up-size, but will need it in a year or 2. Just wanted to gauge if waiting for another 12-18 months will make a significant difference in current car's value.

    Will probably wait a few more months before looking to trade-in.

    Thanks for your help folks!
  • MichaellMichaell ColoradoModerator Posts: 206,508

    Thanks a lot guys! The car is financed and currently no negative equity.
    I got one trade-in offer for about $4k more than I owe.

    Right now, it is not critical to up-size, but will need it in a year or 2. Just wanted to gauge if waiting for another 12-18 months will make a significant difference in current car's value.

    Will probably wait a few more months before looking to trade-in.

    Thanks for your help folks!

    Your car will continue to depreciate, but with a Honda, that curve does flatten out. It will be worth less 12-18 months from now than it is today, but guess are three for a quarter as to what that value might be.

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  • buckeye9906buckeye9906 Member Posts: 10
    Thanks guys!
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