Every car owner aims to keep their car, truck, van or SUV running for as long as possible, but eventually there comes a time when you need to decide to sell your car or continue investing money in it.
That moment may come at different stages of a vehicle’s life cycle depending on the make and model of the car you own, but the real question you need to ask yourself is: when is it time for me to sell my car and purchase a newer model?
Our used vehicle experts will seek to answer that question here.
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First Step: Find out the Value of Your Used Car
A lot of people think that the best way to help you determine the current worth of your car is to check out a site like Edmunds or Kelley Blue Book. When you visit a valuation website you’ll be asked a number of questions, including: The number of miles your vehicle has on it, the year, make and model, and overall condition. The main problem in using sites like these is that they don’t buy cars; they are simply a guideline, used mainly by car dealers and the insurance industries. Unfortunately, this means the pricing is for people looking to buy a used vehicle, not sell one. Also, their data is not in real time. When you call CashForCars.com you get an INSTANT offer based on real time valuations to sell your car, in any condition.
Second Step: What is the Price to Keep Your Vehicle Running Well?
Although you may want to dismiss this question at first glance, just realize it can impact your pocket book in a significant way if you choose to ignore it altogether. The truth is the longer your vehicle runs the more complex and expensive the repair jobs will be, especially when it looms somewhere between the 60,000 and 100,000 mile range. When your vehicle gets that old it’s time to start thinking about replacing the timing belt ($600), the transmission (thousands of dollars), the engine (thousands of dollars), and other expensive parts.
If you’re concerned about the cost of the repairs or you think your vehicle may not last until its next birthday, get an expert opinion from your local mechanic. A mechanic will let you know what repairs need to be done immediately to keep your vehicle on the road, additional major repairs that need to be completed in the coming months and years, and any major maintenance required in the next 12 months. You can also find a maintenance schedule in your vehicle’s owner manual.
Third Step: Weigh the Cost of Repairs Against Your Car’s Value
Doing the math should shed some light on whether or not to sell your car. If the cost of current and future repairs is more than the worth of your vehicle it’s time to sell. If you’d like to dive a little further into the analytics, try going over your past repair bills and see what the future has in store.
Final Step: To Sell or not to Sell Your Car
The final decision is yours. Conducting thorough research will make the decision more cut-and-dry, but in the end you have to decide if it’s time to part ways with your used auto.
If you think you’re ready to sell your used vehicle, call one of our car buyers today. We don’t care what condition your car is in, even if it isn’t running or has severe mechanical problems. We offer an easy selling process and the best quote you’ll find anywhere.