Selling at the right time will have one main point to attract potential buyers. It has three advantages:
- He can sell his vehicle faster.
- Buyers will have little negotiation power.
- The sale price might be increased.
Some factors can impact the value of your car:
Depreciation is the main factor:
The depreciation hit at the start of a new car life. Over time, the car continues to depreciate but it can be worth it to sell your car in the first few years.
Causes of Depreciation:
After completion of 30,000 to 40,000 miles, the major service is on the way. the main point, you need to do more than just an oil change and tire rotation. mainly, brakes and tires need to be swapped and upgraded.
The best resale time will mainly depend on the category of the vehicle:
City cars: The start of the school year:
Small city cars are inexpensive vehicles that are purchased by students and as a second-hand vehicle to take children to school. Between the end of August and October, it is the best time to get a good deal.
Family cars buy before the holidays:
Many families are looking for a new vehicle so that they can go for long journeys. 4 × 4 cars and other SUVs, they sell better during the winter season.
Convertibles are searched after in the spring:
Convertibles are popular in the new and second-hand car markets. This popular vehicle searches from April until the end of summer. Winter is not good for the sale of a used convertible vehicle.
The other criteria for selling your car:
The vehicle discount:
A new vehicle loses 20% of its value in the first year, then 10% every year(depreciation). So, resell your car after 4 to 5 years of use to amortize the purchase costs.
The mileage of the car:
A used vehicle will have a lower discount. But they have a higher value on the second-hand market. A car with in-between 120,000 and 150,000 kilometers will make it difficult to resell your car.
Sell before a new model is released:
Vehicle manufacturers make their models every few years with new features and technologies. If you sell your model while it is still the current model is better than selling it when it has been now looking old.