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When Is The Best Time To Sell Car? Thinking about getting yourself a new set of wheels? If yes, what are you going to do with your old car? Are you going to hold on to it or are you going to sell it? There quite a number of considerations you need to make when changing vehicles. One of the most important considerations is timing. While there isn’t a perfect time to buy a car, there is a perfect time to sell one. You can buy a car at any time of the year without worrying about anything but when it comes to selling, there are various factors you need to consider.
When is the best time to sell car? Most people do not think about the resale value of their cars when buying them. The ‘resale value’ issue only comes to mind after you have owned a car for several months or years. That’s when you begin to wonder how much money you could get for your used car. Most people prefer to sell their old, used or junk cars before upgrading to brand-new cars. Selling your old car provides you with additional funds to add on to what you already have to get your new car. How much you get for your old car is greatly determined by your car’s resale value. This is a very important factor that car owners should never ignore.
It’s a well known fact that a car is big financial investment. Like any other investment, your aim is to get as much benefit and service as possible from it. A car, as an investment, should offer good value for money when it’s time to sell it off and buy a new car. The amount of money you get for your used car can vary depending on the exact time you choose to sell it. So, when is the best time to sell car?
Car Value Depreciation
The value of a car starts to depreciate immediately you buy it and drive off from the dealership. Different types of cars depreciate at varying rates and it’s not always easy to calculate exactly how much a particular vehicle will be worth in a couple of months or years. However, there are certain pointers you can use to get a rough estimate of how much your used car is worth after a given period of time. First and foremost, brand new cars depreciate in value faster than used or old cars. In essence, a brand new car is worth less more than it cost a few days after being purchased. To get the most out of your investment, it is recommended that you retain your car for as many months and years as possible.
After the first and second year of your car being on the road, its value will have significantly depreciated. If you own a used car, a large portion of the money you spent to buy the car will have been knocked off from its value. If you are looking to sell your used car, you should know that it will be competing with other similar or closely related used cars in the market. The exact value of your used car will be greatly determined by how well you have maintained it over time. A well-maintained car depreciates slower than a poorly maintained car.
Sell Your Car When It No Longer Serves Its Purpose
Another crucial factor that can determine the best time for you to sell your used car is your personal needs and requirements. If resale value and depreciation are not huge concerns for you, your individual need to change a car for the sole reason that it no longer serves its purpose may come into the picture. If you car is no longer suitable or corresponding to your lifestyle, it may be time to look for a buyer.
For instance, you may be thinking of starting a family and you may need a change of car to suit this transition. Return on investment is not the only determine factor when determining when to sell your car. If you are simply not enjoying your car like you used to or are looking to get the latest model on the market, you can proceed to sell your existing car and get a new one. So, when is the best time to sell car? Any time is a good time!