The more time passes, the more value your car loses in price. While some brands offer deep discounts, others manage to limit resale losses. Do you know? For a new vehicle, losses can range from 15% to 30% from the moment it is first put into operation.
So, if you are planning to sell your car, or want to calculate, for example, Hummer H2 depreciation, many questions must be asked in your mind when selling it. Is there a specific and ideal time to sell your car? We give you all our advice!
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It’s the right time to sell your car
In most cases, a car is anything but an investment. Also, it is the loss during resale that is the first item of expenses in the general budget of the motorist. But when to sell your car? What criteria should be considered?
Age of the vehicle
In the first year of its existence, a new car loses from 15% to 30% of its value. If it’s for a quick sale, it’s best to do it when the vehicle is considered ‘new’, meaning within six months of its purchase or when it’s driven less than 6,000 km. This first option can be interesting, especially if you received a discount on your purchase.
Over the next three years, the discount will be fairly constant and may range from 8 to 10%. Between the third and fourth years is another good time to sell his car. Why? You usually avoid large expenses such as maintenance or expensive repairs.
After 4 years, the car will already lost half of its value. Be on the lookout for the latest generation release to replace your model. Need to sell before you suffer too much discount.
Mileage of the vehicle
If the car has a low mileage (- 14,000 km/year) and it is a gasoline subcompact car, you can resell such a car after 5 years. On the other hand, a 25,000 km/year diesel car will have a higher percentage of the resale value of their vehicle after 3 years.
On average, a motorist drives 14,000 km/year, selling your used car when it shows 60,000 or 70,000 km is a good choice. Therefore, you will avoid paying the costs associated with the wear and tear of the car, such as replacing the clutch, shock absorbers or timing belt.
Seasonality of sales
The seasons are also favorable criteria for selling a car. It is better to sell your car before the summer holidays, such as in the spring.
Autumn and winter are not particularly suitable for selling your car. It is difficult for potential buyers to make such a purchase when they are in a period that favors both holiday spending and tax spending.
Therefore, March-June is an ideal and fruitful period for selling your car. But be careful, this variation also depends on the model of your car. Of course, some cars are more sensitive to seasonal fluctuations than others.
Sell the vehicle without worrying about the period
Selling your car is always a delicate transaction, as it is often about changing cars without losing too much money or having too long a hole in your finances. It is often a good idea to think about the right time to sell your car. What can you do so you don’t have to worry about it anymore because experts can take care of the process?
Entrust your car to auto buyback services
A car buyback company like JunkCarsUS saves you from having to ask yourself too many questions about the stages of selling your vehicle. Indeed, such a company will take care of everything until you get a good price at which it buys you a car.
How does site sales work?
You start by making an estimate of the value of your vehicle. It is free. You will be asked to provide simple information such as model, mileage, age, etc.
You can then make an appointment with an expert who will evaluate the purchase price. Again, save time by not having to go to the dealership. Appointments can be made via video conference.
The expert can make you a buyout offer that you can accept. If you make a decision, your process is complete. Indeed, the company takes over all administrative and legal procedures. Know that you can even save yourself from having a technical inspection at the garage earlier because often some companies include it in their services.
Which cars are the easiest to sell
There is no secret, the more your car has a good image, the easier it will be to sell it. What do we mean by image? It’s consumption, care for the environment, maintenance costs… These factors are becoming more and more important and these vehicles may have more mileage than a high-polluting car, but they will always sell for a little more. Thus, urban dwellers are the favorites in the second-hand market, followed by family cars.
In addition, diesel engines are much more attractive than gasoline engines, but beware, the new “anti-diesel” law and new environmental measures are trying to force this type of engine to disappear, considering it too polluting and harmful to health. So hurry up and sell your car before it sells even more!
Cars are the hardest to sell
These are the least ecological cars. The odds plummet, and overselling is very often synonymous with big financial losses. This is especially true of 4x4s, which have a bad image in terms of pollution. But not only:
- large sedans,
- sports cars,
- road cars
- large petrol minivans.
These types are the most difficult to sell. This is why some professionals refuse to take back some of these vehicles because resale is difficult.
In conclusion, it is important to think strategically if you want to lose the minimum amount of money, according to your use of the vehicle, according to the seasons, and also according to the categories.