Whether you have a car for daily commuting to work, modifying it and showing it off at car shows or to own that dream car of yours, there are plenty of reasons people have cars. Likewise, there are plenty of reasons to ask yourself, when is the best time to you sell your car and should you sell a car online? There are many factors that contribute to when you should your car and compiled below are some important considerations you should carefully ponder about.
Vehicle Depreciation
On average, a car loses its initial value by 30 – 40% in its first year. The first year is where the value of a car depreciates the most, so ideally roughly every 3 to 5 years should be when you want to replace your car. Moreover, it is highly recommended to have roughly less than 80,000 kilometres on the mileage and to have 10 to 20 percent of the new car warranty period remaining. The reason for having the warranty is to increase the potential of securing a buyer rather than having a potential prospect, whilst also allowing you to have a higher price and quicker sale. Another note is to consider the registration renewal on your car, buyers tend to prefer to have longer registrations which gives them peace of mind when they want to buy your used car.
However, if you are holding the vehicle for the long term and do not really care about the depreciation, the best advice is to try sell it before the warranty ends.
Older Cars
Selling older cars tend to be a bit trickier as you are not selling just a vehicle, you are also selling the vehicle’s quality, roadworthiness, and its history. When a car has visible or audible signs or wear and tear which requires regular maintenance. However, at what point does the maintenance cost become redundant and is taking more money out of your pocket? The point is you should carefully consider whether spending more money on fixing your will improve the car’s current value. Either you successfully repair it and gives the buyer peace of mind or might deter people away as they may assume your car might have other potential issues. A used car that is also an unwanted car makes it extremely difficult to have any potential in attracting buyers.
The proper question to ask yourself when dealing with older cars is: “Is it costing more to repair than its current worth?” If your answer is yes, then sell the car.
Best Way to Sell Your Car
Now that you have a rough idea on when you should sell your car, the next important idea is how you should sell you car. You can either sell privately or trade at a dealership. You might also prefer to sell your car online. In a digital age of technology, selling your car online has never been more convenient and hassle free. At WeBuyYourCars we offer the ability to sell your car online in a simple fashioned manner, all you have to do is call us and answer a few questions.
At WeBuyYourCars, we personally recommend going into a trusted dealer or selling online. Trading in is far easier with less hassles compared to selling it privately. However, you might get a lower price than what you expect. That is why we recommend bringing your used or unwanted car to us, we will give you a quick overview of your car and let you know exactly how much we will pay. Contact us today and see how we can help you to sell your used or unwanted car.