Your car gets you from A to B but it’s also a financial investment, so you should always make sure that you get the best deal possible when selling it on. Timing is an important factor in getting a better rate. Understanding when the optimal time to sell your car helps you save money and avoid expensive repairs in the future. Here are some key indicators that can help you find the perfect moment to put your car on the market.
How Frequent are Services and Repairs?
There comes a time in every car’s life when the repairs and services start occurring more frequently. When the cost of your repairs and services starts to equal that of your car’s own value, this can be a good indicator that your time with that car should be coming to an end. With more frequent services and repairs, you might be compromising your own financial security and leaving yourself open to a higher risk of a car accident. Selling the car while it’s still functioning saves you having to scrap it in a year or so when it’s truly at the end of its tether.
Is Your Vehicle in Circulation?
For older cars that are no longer being produced, finding parts and doing repairs will soon become much more expensive. Take a look at your vehicle’s brand website to see if they are still selling your exact vehicle model. If not, then it might be another indicator that your car should be hitting the road soon.
Are Extra Costs Climbing?
Have you recently got a recent car insurance quote? Car insurance is one of the biggest costs when it comes to owning a car and older cars will often have higher insurance premiums and fewer coverage options than newer vehicles. Compare car insurance with iSelect to see whether you’re paying sky-high prices for a car that should be on its way out with a fresh quote today. By using this free car insurance quote, it’s also a good way of gauging how much risk this car is bringing you just from being on the road. A car insurance company weighs up all these factors and more, so you can take some indication from them with a new quote today.
Think About the Time of Year
Depending on the type of car, buyers might be looking for specific vehicles at specific times of the year. For example, a minivan before the school year starts at the end of summer or an estate car in spring to have some luxury travel during nice weather. These market conditions will play an important role in when to sell your car, so take a minute to consider. Perhaps waiting an extra couple of months could ramp up your options considerably, or today could even be the day to put the wheels in motion.
It could also factor in for you; are you thinking of taking a long road trip soon? If a Lansing trip or anywhere else in the United States is on the agenda, then selling an older car in advance to trade-in for a more reliable one is definitely a good idea. You don’t want to miss out on seeing attractions because you’re stuck at the side of the road instead of enjoying your field trip.
With these key questions in mind, we hope you’ll find the perfect time to sell your car and move on to new things, whether that’s car-free travel or a fresh set of wheels. Remember that it only takes a bit of effort now to work out the optimal selling time that could pay off big time further down the road.