At some point in every car owner’s life, they’re faced with the decision of whether they should sell their car or pay to repair whatever problems it may be having. We’ve talked about this before in a previous blog post. It can be hard to let go of your old car. Even if they are giving us problems, they become like an old friend that we don’t want to say goodbye to.
Thankfully, there are quite a few factors that can help you make your decision. Check them out below:
Time Your Mileage
This is most likely the biggest factor in your decision-making process. The major milestones for cars come around every 30,000 miles or so. These markers are around when a typical vehicle will need more than just an oil change or tire rotation. At 30,000, 60,000 and 100,000 it’s time for new tires, new brakes, and even a new timing belt.
The smartest way to avoid paying for these services is to start looking into selling your car a few thousand miles before these milestones. This is especially true of automobiles nearing the 100,000-mile marker. Most shoppers will limit their search to cars under 100,000 miles and may not even see your listing. Even if your car is in immaculate condition, start looking to sell around 95,000 miles.
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While the mileage milestones affect every make and model of vehicle under the sun, the best season to sell depends on what kind of car it is. Trucks and cars with four-wheel drive or all-wheel drive sell better in the fall and winter. People want to drive cars that they feel safe in during bad weather.
If you’re looking to sell a convertible or sports car, wait for the warmer months. When the sun is shining, people want something sporty they can show off.
Standard commuter vehicles are best saved for July or August, when the weather is unbearably hot, or December or January, when it is likely incredibly cold. People who rely on public transportation are more likely to be on the hunt for used vehicles during these times of year.
Also, consider selling around specific holidays or special events. Students will be looking for cars either in the spring after graduation or in the early fall right before they head back to school. If you’re looking to sell your truck, it is smart to do so right before hunting season. People also are in the used car market right before Christmas and Fourth of July.
The state of the economy plays a huge role in selling cars. If gas prices have recently skyrocketed, this would be a fantastic time to try to sell a fuel efficient or hybrid vehicle, since people will be wanting to get out of their gas guzzlers. On the other hand, if gas prices have just dropped, this is the best time to sell your truck or SUV. Also, if the employment rate is up, this is the ideal time to sell a luxury vehicle, since people will be more likely to want a status symbol then.
Keep an eye on the price of public transportation, too. If bus or train fare has recently gone up in your area, or if there have recently been problems with a certain route, people will be in the market for a used car.
Does finding the right time to sell your car sound like a huge undertaking? You can always get an instant, no-obligation offer from us, no research or strategic planning required!