When’s the best time to sell your car?
There are a few factors to consider when deciding to sell your used car.
Many owners are faced with the tough decision of when to sell to make the most from a vehicular investment.
To help potential sellers, here are the biggest factors to consider when putting your car on the market.
- The cars age and kilometres
- The time of year
The cars age and kilometres
There are two key details to pay attention to when deciding to sell; car age and milage, and the time of the year.
When it comes to the former, the ideal time to sell your car is around the 50,000-75,000 kilometre range, or 3-5 years old.
Most vehicles within this bracket are still covered by manufacturers warranty and this can be more desirable to buyers.
As your vehicle gets closer to 100,000 kilometres your selling price typically drops.
Reason being buyers need to start considering additional cost and risks when buying.
- Cost to service can increases.
- Vehicle may need new tyres
- Brakes
- Transmission Service
The Time of Year
Vehicle demand can play a big part on the resale of your car.
Datium Insights offers weekly blogs on new and used car sales trends and market updates, this can be a very useful source when determining if there is a strong market for used vehicles.
End of Financial Year (EOFY) is typically seen as a great time to shop for sale items, car dealerships are no exception.
Do your research, if a dealer is selling a newer version of your car at a reduced price, a new car might be more desirable to a buyer.
Even seasons can play a part in selling, if you have a sports car or a convertible, consider selling later in the year leading into spring and summer.
Other time factors can include when your car was registered, is the buyer going to have more costs in a few weeks’ time if the registration is close to expiry?
Ready to sell?
Regardless of the make and model of your vehicle if you maintain it carefully, service as directed and keep it presented clean and with limited damage you are likely to receive a good price.
Remember, manufacturers are continually bringing out new models and different variants, make sure you do you research on new models as this will affect the resale price of your car.
If you’re ready to start the process of selling, talk to the Pickles team about sales options.
