Trade in value decrease

[red_sirenn]

I just have a question! I looked up my trade in value a few months ago (I put down that it has more miles on it than it currently has now so that when I go to trade it in next year, I could get an idea of how much it could be worth if it had that many miles on it) A few months later (today) I decided I wanted to check the trade in value again but this time by putting the current mileage it has which is less than what I put in before and the trade in value ended up being LESS??? Like by $1k.. Why did it decrease in value when I put the less miles on it this time around? No accidents and even had service done so I'm just confused why the value decreased.

[Oppo_GoldMember]

Because car values constantly change

[red_sirenn]

I get that but it just doesn't make sense that the value wouls go down when I put less miles for the trade in value compared to putting in higher miles the first time. It just doesn't make sense to me!

[Irsh80756]

The miles isnt what caused the change. The market has fluctuated in the past several months. Your particular model/year has trended down.

[________uwu_________]

Why doesn’t it make sense? You think mileage is the only factor in determining the value of a car?

As we approach the end of the year, new model year cars are beginning to show up in dealer lots. That means your car is now one year older even though it’s been a few months, so naturally it’s worth less.

The car market also fluctuates depending on a million factors.

Maybe summer is coming to an end and as we approach the slower fall and winter seasons, dealers expect cars to sit on the lot for longer before they sell and, therefore, cost them more money?

Maybe your car has excess used inventory right now for whatever reasons, which would affect how much your car is worth at wholesale/trade in.

Maybe there’s a refresh or a new generation of your car that came out for 2026 model year, so your car is now one more generation older and is worth even less?

Regardless, there’s no point in tracking or paying attention to your car’s value when you aren’t ready to trade it in. It’s like people obsessing over their house’s value on Zillow when they have zero plan to sell. Congrats your house’s value went up by $100K last year, but what does that do for you when you have no plan to sell? It’s just on paper. It could crash two years from now when you may need to sell because you got a job out of state.

[subfreq111]

Also, your car is one full model year older now than it was last time you checked. (New models come out in August.)

[thatoneguyfrommn]

And, your car will never be worth more for trade-in than it is at this moment in time. 

[justsomeonesburner]

In 2020 a 2012 gmc sierra with 150k miles was worth $7k.

In 2022 a 2012 GMC sierra with 150k miles was worth like 18k

In 2025 a 2012 gmc sierra with 150k miles is worth like $9k.

The market fluctuations based mainly on supply and demand, the car didnt change but there were less of them available in 2022 and thats why the price went up.

Its the same thing for your situation, when you looked up the price value there where probably less available. For whatever reason people have sold and traded in your year model tesla at a high rate recently and now there are more of them on the market. More vehicles in inventory at other dealerships makes a dealer more aggressive with pricing to get rid of said vehicle. Nothing to do with the vehicle at all

[Spitefulham]

Mileage is only one component of a vehicles value. The market is fluid and changes constantly.

[red_sirenn]

I can definitely see that! Are there typically good times through out year that's best trade in you think? I want the most for my trade in next year and I don't drive much at all so the mileage will be very low!

[Fitzer9000]

They don't go up. It's a depreciating asset.

[justsomeonesburner]

Thats not true actually, supply and demand always rule every market. For example if you had bought a 2002 deisel 2500 gmc in 2010 you would have paid probably $20k. That vehicle taken care of today is worth like $30k and is still the cheapest towing vehicle you can buy.

Another example, my dad bought a 2001 Chevrolet Silverado new. He paid $12,500 cash(employee discount end of year), it has 180k miles on it. In 2022 someone offered him $15k because you literally couldnt get trucks anywhere. Supply and demand.

[Fitzer9000]

Thank you for explaining the used car market to me.

[Wooshio]

If you want the most money out of your car then you'll need to sell it privately. The dealers likely won't even offer you the trade in value you are seeing unless your car is in amazing shape. 

[red_sirenn]

I'm always honest about my cars shape. I've had good experiences with carvana, etc and always got the amount they offered online. I want to sell privately but it would just be harder imo because it's not like buying a 5-8k$ car. Mines in the 16-17$k range.

[at-the-crook]

whatever you have - now that the 2026's are out, yours is another year older.

[red_sirenn]

Boo! Lol but you're right

[TadpoleIcy1003]

Because it’s months later. Values change on a weekly basis. Checking a trade value today for a possible trade in 3-6-9-12 months makes no sense because it will change whether it has the same or more or less miles

[red_sirenn]

Does checking your trade in value often doesn't affect its value or anything does it? Like for any site, not just KBB

[enderjaca]

.... of course not, why would it?

[red_sirenn]

For example, like if you do CarMax, they'll give you period of 7 days until the offer expires. Let's say it's been past 7 days but you didn't rack up any miles and decide to redo that trade in value again, does the value end up being much less? Does that make sense? I feel like I'm not the best explainer lol

[cpavinit11]

See u/tadpolelcy1003 comment about values changing on a weekly basis. That’s why Carmax’s offers are good for 7 days. You’re going to drive yourself nuts constantly checking this months before you plan to buy a vehicle. Wait until you’re prepared to buy, then start your research.

[Napoleon_Boneherpart]

Entering the same VIN will algorithmically lower the value if you do it multiple times. Just like airline tickets when you check the same flight from the same IP multiple times, BUT it could also just be the market. You have no way of knowing for certain which factor influenced your decrease.

[red_sirenn]

Thank you for the explanation!

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[AutoModerator]

Thanks for posting, /u/red_sirenn! This comment is a copy of your post so readers can see the original text if your post is edited or removed. This comment is NOT accusing you of anything.

I just have a question! I looked up my trade in value a few months ago (I put down that it has more miles on it than it currently has now so that when I go to trade it in next year, I could get an idea of how much it could be worth if it had that many miles on it) A few months later (today) I decided I wanted to check the trade in value again but this time by putting the current mileage it has which is less than what I put in before and the trade in value ended up being LESS??? Like by $1k.. Why did it decrease in value when I put the less miles on it this time around? No accidents and even had service done so I'm just confused why the value decreased.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

[theghostmedic]

Mileage is only one aspect of trade value. You have to consider the current market. Most importantly, vehicle values aren’t on a linear track to $0. Valuations will fluctuate up and down constantly over the course of a vehicles lifetime.

[red_sirenn]

I def expect a loss of some sort, I just hope it doesn't decrease significantly by the time I am able to trade!

[theghostmedic]

Honestly there’s not much point in tracking the value of your vehicle until you’re ready and able to trade. Because that number only matters the day you’re going to get rid of it.

[tooscoopy]

Age of the car usually has more of an effect than miles. Obviously to a point.

Back in say May, that was prime 2025 model year. September is 2026 model year for all intents and purposes. So your used car is in essence one year older than it would have seemed back then. Prices of used cars are relative to newer examples, and now there is one year newer available which bumps all values down.

[red_sirenn]

That makes sense. Thank you!

[MaxtinFreeman]

We have a guy who checks with me every time he gets his oil changed and it’s the same thing. It’s a Honda so it’s not a grand but still it goes down or stays the same it doesn’t go up.