When Is the Best Time to Sell Your Used Car?

When Is the Best Time to Sell a Car?

To begin with, depending on the type of automobile you own, the time of year you sell an old car might make a significant impact.

Listing your used car for sale is often a more subjective choice. Some people want to dispose of their vehicle within one or two years, whereas others would retain it for over ten years or more if it is in working condition.

Read on to better understand the resale value and how you can make selling your used car or vehicle profitable.

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5 Reasons Why You Should Sell Your Car

Increasing maintenance cost

The more you drive a car around, the more you will have to spend on maintaining the vehicle in good condition. You have to give the vehicle for continuous servicing and keep the car in good shape. As the mileage increases, replacement of pricey items also takes place, which can be pretty expensive.

A 2-4-year-old car will not require as much maintenance as (aside from regular service) older cars, particularly those with more than 75,000 kilometres on the odometer.

This issue can be resolved by letting go of your old car for a new one. A new car will run effortlessly for several years, saving you energy and money.

End-of-year changes

When you buy a car, the resale value of your car depreciates each year. This means that if you are planning to sell your current car and purchase a new one, it is advisable to do so before the end of the year. It's rather difficult to sell your used car in the latter few months of the year since both business and individual buyers will cut its worth or the resale value, citing the 'year-end change' as the reason. To get a reasonable price for your used car, sell it before the end of the year.

Sell the car before the warranty period expires.

A car that remains covered by the manufacturer's guarantee will give you peace of mind. If this term is close to expiring, the likelihood of you having to pay cash out of your pocket for part replacement and repairs goes up. If an extended warranty is not available, replacing your old car with a new one is a good idea. This is especially important for vehicles with a lot of kilometres on them.

Relocation

It is common for people to relocate to a new city in search of a new job or studies. In such cases, selling your car in the same town is better than buying a new or used car in the new city. This is because it is illegal to regularly drive a vehicle with a different state registration in a new town.

To avoid getting challans and summons from the traffic police, getting your car registered in the new city is better.

Cars with lesser fuel consumption

Lastly, manufacturers constantly look for ways to enhance a car's fuel economy. In comparison to earlier models, newer ones get more excellent ratings. Earlier, the petrol version of the Maruti Dzire had a fuel economy of 19.1 km/l, but the latest model has a value of 20.5 km/l, representing a 7% improvement over the 2012 model.

Well, as you upgrade to the newer model cars, you get the best in the market, making your purchase of the latest model and selling the used car worthwhile.

Conclusion

Selling a car at the right time can save you money in the long run. Most people sell their cars when they reach a certain age or mileage, but this may not be the most economical option. It's essential to consider the type of vehicle and the time of year when selling a car. It's also necessary to sell the car before it becomes too expensive to maintain or the warranty expires. If you're relocating to a new city, selling the car in the original town is better to avoid costly state taxes. Ultimately, selling a car right now can help you save money and avoid expensive repairs.