by Gauk
Wed, May 6, 2020 4:00 AM

When do I sell my car?

The increased awareness has led people to think of selling their old cars before bringing the new one. However, one question still haunts them. When do I sell my car? Well, you don't need to worry in terms of getting the fair value for it, especially if you choose third-party vendors over dealers. But there are other factors that you need to consider as far as timing is concerned. Here are some suggestions to help you in this matter.

Tips for timing your used car sell

Generally, automobile experts tell you that summer and spring seasons are the best for this activity. But this cannot be the sole deciding factor. You have to know who you want to sell it to – a private party or a dealership for a trade-in deal. Then, market conditions, the status of your car, your life events, repairing cost (if any), and many other things also count. However, you can still do well by following these basic things.

Sell the car until it becomes the real need

Don't feel surprised. You don't want to make a forced-choice. So, you must have sufficient time to research all the information related to selling cars before you run out of the options due to lack of time. However, certain life events can compel you to make hurried decisions. For instance, a major accident led to high repairing costs, or your debts are out of control. In those situations, you cannot care about the market or vehicle's actual value. Anyway, you can still make all the attempts from your end to secure a good deal.

Get rid of the old car when it is still good and doesn't need any special care

How did you behave if you were a buyer? You would have liked to offer a price after deducting the amount required for maintenance and repairs. So, without waiting for things to develop to such an extent, you should plan to dispose of it. You can check online forums to know what types of problems can happen with models like yours and how far you are from facing such challenges. If your heart says sell it, then sell it.

Look for opportunities in summer and spring seasons more

As mentioned, these two are usually the best time to sell your used car. During this time, both buyers and sellers flood the marketplace. So, you can expect to strike a great deal. Besides, some recommend you should wait during winter vacations and colder months. Anyway, keep checking the demand for your car in the market throughout the year in various locations to assess its real worth.

Let it go before it threatens your safety

After using your car to its full capacity, a time may come when you feel it is no longer safe to drive your family in it. If you are no longer comfortable with it, you should sell it. Approach any private company for extra dollars. They generally pay high prices. You can combine that money to buy a car with high-end safety features.

These are some general observations. You can refer to them along with more specific technical points to arrive at the best decision.

published by Gauk