What Is The Best Time To Sell Your Car?

For the average car owner, buying a new motor isn't a big deal. Just find a suitable model, pay for it and you are done with the entire process. However, selling your old car isn't as easy as buying one. You need to take care of certain factors if you really want to get good value for it when you go to sell it on.

What's even worse is that there's no guarantee that you will get the price for your vehicle when you go to sell it on. This makes a lot of people wary about what they should do with their old vehicles before they decide to purchase a new one. Also, not having any idea about how much cash they can get from their old vehicle can make them spend more than they need to.

However, there are some ways through which you can ensure that you get a good resale value for your older car, if you want a greater value of resale then, visit ABE. so that it doesn't end up emptying your pockets completely. Consider these four factors to ensure a good resale value of your car when the time comes to sell it away. We will try to answer to your questions such as, “what is the best time to sell a car, what mileage is the best time to sell a car” and likewise.

Best way to sell car in India

Factors to be considered while selling your car are:

1. Depreciation Rate

The automotive industry has been plagued with the question of how to ensure that the car selling process is conducted at a reasonable price and within a reasonable time frame. Well let us tell you that as the value of your car drops, the cost to maintain it keeps on increasing. This means that you’re paying more to run an older car than you are to maintain a newer vehicle. You finish up losing both money and time. You can avoid this by trading in your older vehicle for cash at an early stage.

When your car is brand new, it loses about 25 percent of its value on the showroom floor. After a couple of years or 20 thousand kilometers (whichever comes first), the second massive depreciation hit comes at 3–4 years when you lose approximately 50 percent of your car's initial value. Selling your vehicle as early as possible is the best way to maximize its value. Using a car trading platform like Autobest can help you sell your car with the right buyer at the right time. The earlier you sell your car, the more money you can get for it. So, have a prior clearer idea about best time to sell a car.

Also Read: What does a vehicle’s actual depreciation include

2. Mechanical Wear and Tear

If your car is in good shape, maintenance and upkeep should not be a concern. But if mechanical wear and tear has taken a toll, or you're just not excited about spending all that time driving your vehicle around every day, this can present an opportunity to sell your car at a lower price than expected.

You need to understand that your car needs regular car servicing to stay in good condition and maintain its value. You may not be able to tell the true state of your vehicle just by looking at it. Therefore, you should take it to a garage for inspection and regular servicing

3. Facelift

A used car loses a lot of its value as soon as it is driven out of the showroom. This makes the gap between what you paid for the car and the resale value after five years huge. Previously, manufacturers used to focus on the engine of a car rather than its safety features. In addition to this, once the car reaches the second or third year in their portfolio, the car gets outdated and feels very dated.

Some of the most recent updates in the automotive industry are safety, environmental and technology advancements. This can make an older, used car feel a bit dated. Also, between model updates most car manufacturers focus on making the cars safer and more efficient i.e. new norms end up making these older models feel worthy. A lot more money is spent on development and updating the software on car engines and airbags in newer vehicles than these models were born with. So selling a used car which has been driven less than 5 years will mean you sell an older model but one that comes with newer features.

4. Environmental Considerations

If your car has been through a rough outing you will know about the depreciation in its value. If you are driving a car that does not have a robust suspension system then you might end up amassing damage to it and you will have to spend big on repairs. You can also hit another vehicle or object in the road which could lead to damage being done to your car’s steering system.

As a car owner, you have to be very careful about your vehicle and ensure that it is kept in good condition. You have to keep asking yourself, if is it good time to sell car?You always should look out for ways to keep it safe and secure. However, sometimes things can go wrong with your car without you even knowing it. With the right car maintenance of your vehicle, you can make sure that it runs smoothly.

Also Read: Different Types of Suspension System

FAQs

1. What is the best month to trade in a car?

Early in the year, trade-ins are at their highest point as buyers wait for early models to hit dealer lots. Buyers love new cars and cars that seem brand-new. New models typically arrive in the summer or fall after these years are over, so cars that are a few years old feel older (and less desirable).

2. At what mileage should I sell my car?

If you're selling a car before it hits 60,000 miles, you'll probably want to sell it at a reduced price. Treating your car the same as if it was 5 years old will save you money on repairs and replacement parts.

3. How many years should you keep a car?

Ownership of cars has changed. Indians used to hold on to their cars for about 4-5 years, but that is showing signs of change with generally better built cars, owners beginning to understand the importance of their decisions and landscape changes.