When should I sell my car is the question that rises in every second car owner’s mind especially when they are planning to get a new car anytime soon. Imagine you are going for a long drive and the car broke down somewhere or you are going to an important meeting but could not reach there on time because your car got out of order at eleventh hour. These are awkward situations indeed and anyone of us can possibly face them. But after facing such scenarios it is inevitable to think of when I should sell my car. Indeed, there is a situation and you need to sell your car when it is needed. But then there is a desire to sell your car and go for a better one. Obviously, anyone can sell their car and get another one at any time but there are certain parameters of doing that. If you just can’t figure it out what is the best time to sell my car, these tips can be helpful.
Maintenance of the car:
Before selling the vehicle, one must always keep in mind how much they have spent on maintenance and what is the condition of their car right now. Let’s say that ideal time to sell my car is 2 years but at this time, the actual cost of the car keeps lowering by the time and maintenance cost keep growing. It is usually said that before your car hits 50,000 miles, you can start planning to sell your car. After completing the 100,000 mileage, it is, however, preferred that you should start looking for a buyer of your car.
Cars in warranty are always value adding:
Certainly, everybody wants to buy something which is under warranty, either that’s some gadget or a car. When you drive off from the showroom, 25% value of your car is depreciated at that time. Just imagine, the more you drive that vehicle the more the car’s value keeps decreasing. If one tries to sell his car within the warranty period, one must make sure of the potential benefits.
What should I know before I sell my car?
Many people ask themselves: “what I should know before I sell my car”. Let’s take a quick glimpse on few main tips before selling your car. So here are a few answers to your questions which could help to analyze.
Know the Market Trends
What’s new in the market and what it costs you is a must to know. Whether the price you are getting for your car would be enough to go for a new one or this would be a mistake to sell my car before having sufficient knowledge of market trends and prices.
Leased cars are always kind of difficult to sell to any third party but if one is selling the leased car, he/she must keep in mind that how much you still owe. If the money you owe is greater than the actual price, then just drop the idea of keeping the car with you for longer.
Keeping things flexible helps selling a car:
Never just go for a new vehicle without consulting anyone. There is a difference between the need of a new car and craving of that. Consider being flexible and that might proves to be useful.
Buying or selling cars is very easy nowadays, but if you get some basic understanding of the market, this could be beneficial in terms of adding some money and greater feasibility.
Stay tuned for more tips answering your question, “when should I sell my car”.