After using your car for many years now, there comes a time when you will have to sell it. Whether the vehicle has started to show its first signs of old age, has reached a certain mileage, or simply your needs as a driver have changed, the reasons to divest yourself of your ride can be vast.
However, selling a car isn’t a simple task. There are so many things to consider that can make the selling process long and overwhelming. The one thing people often overlook in this situation is picking the best time to sell their vehicle.
The truth is selling your car at the right time is very important for getting the most money for it. There are many factors that can have an impact on its overall value which is why it is necessary that you first examine a few things so you can determine when you should sell your ride in order to get paid a good sum.
To get you started, we have compiled a list of three simple ways to help you decide what the best time to sell your ride is.
Your car’s condition
Probably one of the most deciding factors that help determine the best time for selling your car is its condition. This includes both the physical condition of your vehicle as well as whether it has any mechanical issues that need to be repaired immediately so you can get more from the sale.
If your car is completely inoperable, wrecked, or totaled, then fixing it may not be the best option because the repair costs can be quite high. In this case, you should explore other solutions to sell your ride to make a good profit along the way.
For example, one selling path you can take is to sell your junk car to a junk car-buying company where professionals will dismantle the vehicle for its valuable parts and give you money for them in return. To get the best rate, make sure you shop around for different junk car-buying companies before settling on the first one you find.
Your car’s mileage
Your car’s mileage is another important factor you should take into account when determining the best time to sell your vehicle.
In fact, this is the first thing most car buyers look at when they check out a car and make their decision based on whether the vehicle has high or low mileage. The rule of thumb is the less mileage your car has reached over its lifetime, the more money you can get from the sale.
However, you should know that selling your vehicle early can cost you a substantial amount of money, and vice versa. If you decide to sell your car at a much later time, it may be difficult to find a buyer who is willing to pay good money for an extensively used vehicle.
So, the best time to sell your ride is before it reaches 100,000 kilometers because any mileage after that can increase wear and tear and depreciate your ride’s value.
Time of the year
Another thing many people overlook when selling their car is the time of the year. In other words, if you choose to sell your car during holidays, in winter or when its registration date expires, all of these factors can certainly affect your ride’s value and even how fast you sell it.
In general, the best time of the year when you should consider putting your vehicle up for sale is the first half of the year. During this time, used cars typically retain more of their value than in the final quarter of the year. Besides, this is also the time when most people are looking to buy a new vehicle to go on road trips and take family vacations.
Lastly, don’t forget to consider the type of your car. Sports cars and convertibles are most valued in the spring and summer, whereas SUVs are most commonly searched for during winter.
Final thoughts
Determining the best time to sell your car is vital for getting the most money for it. Although this may be a bit difficult to do, there are still several factors you can consider to help you make a successful sale. For more information on the matter, be sure to refer to our post and learn how to choose the right time to sell your ride.
