So I have a 2015 Volvo S60 that I'm not really digging anymore. I owe around 14k on it and I think it has depreciated to around 20K (trade-in) or so. I bought it for 26k so it's lame that this European car has depreciated so much within 8 months. (I'm used to Hondas and Toyotas which kept their value for much longer.
I'm wondering what I should do if I know that I won't keep the car long-term. I could trade it in so that I can get more for it while it's still worth more, or pay off the car and essentially just wait until the warranty gets close to running out. Not sure if there is even any benefit to paying off the car so I'll have the title in hand before going in for a trade-in. Any ideas on maximizing the $ I could salvage from any transaction?
I'm wondering what I should do if I know that I won't keep the car long-term. I could trade it in so that I can get more for it while it's still worth more, or pay off the car and essentially just wait until the warranty gets close to running out. Not sure if there is even any benefit to paying off the car so I'll have the title in hand before going in for a trade-in. Any ideas on maximizing the $ I could salvage from any transaction?