One thing many people in the market for a new car don’t think about when making a final purchase is the vehicle’s estimated residual value.
Ready for a new automobile? Unsure about trading in your old car? If you are thinking of trading in your current daily driver for a new set of wheels, here are some things to consider: Do you have any use for your old car if you were to get a new one? Could you afford insurance on two automobiles? Do you have family that may need a backup vehicle at times? Does the vehicle in question still run and drive well? Could you afford the maintenance on two vehicles? Would trading in be of any significa
2010 Mercury Milan Hybrid - Click above for high-res gallery
The average car buyer trades his car in every five years. If, instead, you didn't trade your car in but kept it for 15 years, or 225,000 miles, Consumer Reports says you'd save $30,800. How'd they get that figure? If you bought a Honda EX and kept it for a decade-and-a-half rather than replacing it, you'd save $20,500 in new car expenses, depreciation, taxes, and insurance. The other $10,300 comes from the interest you earned on the twenty grand -- because of course you'd invest it responsibly,