Your car's going out of production... should you hold or sell it?

You're in the third year of your five-year Echo/Cavalier/Park Avenue/XG350 (pictured) loan, and find out that its manufacturer is discontinuing it for a new model. Should you head to the nearest dealership to trade it for a Yaris/Cobalt/Lucerne/Azera?

No, according to Don Hammond of the Pittsburgh Post-Gazette-- and his response is supported by many experts. While owning and maintaining an out-of-production model means repairs may be more difficult due to harder-to-find parts, Hammond and the experts agree that trading-in may not be the best decision. A vehicle’s purpose is to provide transportation, which is not affected by its manufacturer’s status (Exception: if the vehicle's manufacturer exits the market altogether), and federal law requires all active manufacturers to keep available parts for out-of-production vehicles for a decade.

So continue to enjoy cruising down Santa Monica Boulevard in that Park Avenue, safe in the knowledge it’ll still be a smooth ride in five, ten, or perhaps even twenty years.

[Source: Pittsburgh Post-Gazette]

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