The right time to sell your car will be determined by many factors. For instance, what would happen if you traded in a Buick you had five years for a new one? If you do this twice the accumulated depreciation would be about $63,000. On the other hand, if you kept the first one you would lose more on depreciation. This would only be possible if you are a low mileage driver which would mean a depreciation of $37,000 over the same ten years. In the long run you would save approximately $23,000. Keep in mind staying with the Buick for a decade would mean an increase in your maintenance costs. So when should you sell your car?
Some people may advise you to buy the cheapest car in the market. Do the opposite by buying the one that you can afford and really want. When you do this, go for the vehicle that has the best price, maintenance costs and enjoy it for as long as the mileage combined with maintenance makes it practical to own.
The actual savings come from reducing the car’s yearly depreciation. The best savings are gotten when you get a car that you can effectively maintain. This means that you can be able to sell it later, at any time, at a good price. Do not be too keen on the depreciation of the vehicle according to statistics as long as you maintain it well, you can keep a car well and dell it ten years later at a good price when you decide to sell it. This is especially the case when you sell the car privately or through specialized online car selling sites.
For slightly used car
Many people purchase cars that are two years old when they have already depreciated. Since this may be knowledge that any prospective buyer may have, it is best to make sure you are not trying to sell a car with this condition.
A good car shopper would want to buy a car in good condition and with low mileage so they can drive it for many years. They are likely to request for a CARFAX or similar report just to confirm. This means that you have to ensure the car you are selling is in the bet condition possible. You can do this by doing some simple maintenance such as changing the oil, filters any lights that are not working.
Many dealers provide ‘dealer certified’ vehicles to their clients. They will provide checklists confirming multi-points they use to certify their vehicles. Motor enthusiasts have discovered that there are some dealerships that certify a vehicle by buying an extended warranty and adding the same to the car’s price. Buyers may want to have a vehicle they want to buy checked especially if they plan on spending thousands of dollars on the same. You should keep this in mind when you are selling your car. With such information, there is not right time to sell your car. The best time would be when the car is at its best condition.