If you are thinking of selling your car, and the need is not urgent, it is prudent to wait until the time of year to get the most for it. There are many factors to consider, including your car’s age and condition, the reason you are selling, and whether you have the patience to wait for the best offer. In addition to the time of year, there are other considerations to make when selling your car, as well. Keeping it long enough to require more costly maintenance or expensive repairs often causes owners to wonder why they didn’t sell sooner. Keep these tips in mind when you decide to sell your car, and you will find the best solution for your needs.
’Tis the Season
March through August is typically the best time to sell your car and get the most out of it. This is the time of year that shoppers get their income tax returns and tend to have a little extra spending cash. It is also too early for most individuals to be thinking about the cost of holiday shopping, decorating, and costly dinners, so they tend to be more focused on getting a car and getting out on the road for a cross-country trip or day trips in their own state.
There are exceptions to every rule, however, and if you are selling a 4×4 vehicle in an area that sees a lot of rough winter weather, you may be better off trying to sell towards the end of the year before the harsh elements hit your locale.
Other Factors You Should Consider
- Model year. Even if your car looks great and doesn’t have many miles on it, you may have trouble finding an eager buyer if it is an older model. If the car looks out of date, it can be a turn-off to buyers. This happens because model generations change every five to eight years, and the body style may even have some small changes in between. If you know that a new generation is due to be released soon, selling before that happens is a good idea. On a similar note, if you are thinking of hanging on to your vehicle for another year, remember that a single model year can cause a significant drop in perceived value, even between two cars that are in similar condition but a year apart.
- Mileage. Your car’s mileage is the biggest factor in the depreciation of its value. After 30,000 miles, most vehicles will need new brakes and tires. It is also around this point that other repairs start to become necessary. Figure in your warranty as well, as most run out somewhere between 25,000 and 100,000 miles. Regardless of mileage, many car owners start to see the need for bigger repairs at the five-year mark. These are all things that you want to keep in mind when determining the best time to sell your car.
When you are selling your car, you have a lot of important decisions to make. Of course, if it is a relatively new model, you will likely want to get the most you can for the vehicle. If you are driving an older car, however, your decision may become a little easier. Cars that are not likely to fetch a high asking price are often sold to junkyards, which can sell the functional parts to other vehicle owners, and then scrap the metal. If you are selling an older car and feel that this option may be best for you, reach out to the pros at Wrench A-Part today at (512) 501-6946.