Are you thinking of selling your car, but don’t know when the best time to put it up for sale is? We have you covered. Below we have pulled together all the factors that could affect when the best time to sell a car is.
Selling your car is always easier if the car is in good condition. If you are thinking about selling your car then it is always best to do it before your car starts needing constant repairs and fixes, as this can lower the value of the car massively.
If your car isn’t in great condition before you sell, it is recommended that you get some repairs done to it, so it increases the value and makes it easier for you to find someone to buy it.
Before you sell your car, you need to ensure that you have paid all of your outstanding finance off. It is illegal to sell without doing this, as the lender is still the legal owner of the car, so you would be selling their car.
If you have paid off all your payments and are now the legal owner, you have every right to sell.
Your car’s value decreases with the more miles it does. Between 40,000 to 70,000 miles is when it is the most ideal time to sell a car. A car that has hit six digits in miles is more difficult to sell and you will need to lower your price.
If you are thinking of selling and you are still lower than six digits in miles, it might be worth taking the plunge now.
In March and September, the new registration plates are released. This is usually when people start to buy new cars. If you are one of these people, then you will likely want to sell around this time. However, this is a peak time for used cars to be sold, so if it can be avoided then it might be best to do so, for competition to be less, so you will get a better chance at selling for a great price.
Certain cars will sell better during particular months, which is usually something overlooked by sellers. For example, convertible sales increase in spring and summer as it is the perfect time to drive one when the weather is warm and sunny. Classic and sports cars also sell more during this time. We see a surge in SUVs, off-roaders, and 4x4 sales in autumn and winter.
If you have a car that is designed for certain seasons, then it might be best to wait until then to sell your car, as more people will be looking for one and you can list your price slightly higher.
During school holidays and around Christmas, a lot of people take time off or go away. This means demand for cars can be quite low. This might not sound like a great time to sell, however, it will also mean that fewer cars are being sold at that time, so there will be less competition. There are always going to be people looking for cars, no matter the time of the year, so listing your car when demand is low could mean that it is actually easier to find a buyer.
There might be reasons in your life that your car is no longer working for you. Perhaps you are moving away, you are growing your family, or you have a change in lifestyle that means you need a different size car. These are all great reasons to sell your current car and find a new one.
You might just not enjoy driving your car anymore or fancy a new one. This is also fine. Over the last couple of years, there has been an increase in the desire for electric and hybrid cars, to help the environment. This has led to a lot of people selling their old cars to buy one of these.
The best time to sell your car will differ from person to person, depending on what is going on in their life and the car itself.
If you are ready to sell your car then place an advert on MotorHype. It’s free, easy to upload, and can get your cars seen by thousands of potential buyers.
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I never would have imagined this much went into consideration when it came to selling a used car. This is some good info nonetheless. I am looking to sell one secondary car and get an EV to cut on costs.