When is the Best Time to Sell your Car?

Posted On September 18th, 2018

Many people today are downsizing their cars as a way of reducing their monthly expenditure. This floods the used vehicle market and it works against the sellers. According to the basic rule of economics the higher the supply, the lower the demand. A car is a depreciating asset, and you don’t want to compete with other sellers. So when is the best time to sell your car? Don’t worry. This article will help you get the best Cash for Car Sydney.

The Relationship between Depreciation factor and selling a Used Car

Unknown to many car owners, depreciation starts once you start using the vehicle. Every car has an optimal selling point. It is also difficult to estimate how much a car is worth in a year.
For instance, it is advisable to sell your Honda Civic before it hits the 48-month mark from the day you drove it off the forecourt. Ideally, new cars lose between 15% to 30% value in their first year. This can go above 50% in three years. An effective way to tell the best-selling time for a particular model is using the manufacturer’s recommended lease promotions.
If you have a used car, you will be competing with other used vehicles. Ensure your car is well-maintained. It slows down depreciation and puts you on a higher mark.

Sell your Scrap Car

Sell it if you no longer enjoy using it

Do you want to start a family soon and have an eye for a new car? If depreciation or driving the latest car model is not your priority, the best time to sell your car is when your personal preferences change or when the vehicle ceases to serve its purpose. You can use the money you make to purchase a new one.

Sell your car before it hits Mileage Milestones

Buyers won’t pay as much for a vehicle without warranty coverage. Older cars with many miles are considered a high maintenance risk and expensive by potential buyers. Therefore, sell your car before it hits its mileage milestone. It increases the chances of selling the vehicle quickly.

Seasons Matter

Different seasons, holiday, events play a significant role in getting the optimal time to sell your car.
As temperature rises during summer and spring, the demand for sport, convertibles and classic goes up. On the other hand, off-roaders, SUVs and 4x4s appear more attractive during winter and autumn. Vehicles that fall into this category include:

  • BMW X5
  • Nissan Qashqai
  • Kia Sportage

Moreover, most scrap car removal is done in March and September. This is because most people purchase brand new cars in those months. Consequently, it is advisable to sell your vehicle slightly earlier or later to avoid competition.
A car can be a perfect gift for holidays, occasions, and events like graduation, Christmas, Thanksgiving and birthday. They affect the demand for used vehicles. Be timely and take advantage of these events.

Economy factor

The demand for different types of vehicles varies depending on the economy. Here are factors that can increase the chances of a quick sale:

  • Fuel efficiency- Usually in bad economic times, the price of fuel goes up. This is a perfect time to sell your hybrid vehicle and maximize profits.
  • Public transport- When the cost of public transportation goes up, there is an increased demand for used vehicles
  • Interest rates- It is easier selling your car when interest rates rise, and loan approval becomes difficult.

Final Thought

It is wise to research the current market condition before posting your used vehicle for sale. For instance, if there are many 2014 Nissan Altima for sale in your area, you may wait for a few months until the market inventory goes down. That is the only way you can secure the cash for car Sydney you are targeting.
If you have an old, used or scrap car to sell, please contact us at 0432 555 143

Car Removal