Do you have an old junk car sitting around? Or are you contemplating whether it is time to upgrade your ride? There are many reasons why you may be asking the question, “when is the best time to sell your car?”
The good news? There are no hard and fast rules as to when is the ideal time to sell your car. However, there are quite a few determinants worth noting if you are considering selling your current ride or an old junker sitting in the garage.
Determining When to Sell Your Car
Not quite sure when the best age to sell a car is? There isn’t any. However, that doesn’t mean your car’s age won’t impact how much you get for it. If you ask anyone in the business, you will get the same answer, “you want to sell it sooner rather than later.”
So, if there is no best age to sell a car, when is the best time to do so?
When the Perfect Replacement Comes Along
Replacing your car may be an ideal decision if your family is expanding, or you happen to come across the right deal on a car you’ve had your eye on. However, that often means selling your old junk car before you can buy the new one. When you come across the perfect replacement vehicle, consider selling your old car or evaluating its trade-in value.
When Your Current Car No Longer Meets Your Needs
Another time to consider selling your car is when it no longer meets your day-to-day needs. This can mean that you require a vehicle that can travel long distances or has more storage for weekend activities, etc.
Your car needs to fit your lifestyle, so whether you need an upgrade or you’re considering downsizing, you will want to consider selling your car and getting a new one once your needs are no longer being met.
When Your Car’s Value is Less Than Its Upkeep Costs
Depreciation is a car owner’s greatest enemy. The moment you drive your new car off the lot, its value begins to decline. With regular wear and tear often comes pricy upkeep costs. If you’ve agreed to a long-term financial plan or purchased a used car for more than its worth, then you could end up paying more in upkeep costs than your car is worth. Don’t waste your hard-earned money and consider selling.
During the Summer Months
Studies show that the best season to sell a used car is in the summertime. More people are out and about looking for ways to enjoy their time outside, and what better means than with a new car for road trips?
Sure, it’s possible to sell during other times of the year; however, if you’re planning to sell privately, you’ll want to consider weather conditions as your buyers will have to come to you for viewing and purchasing.