Eventually, we all have to sell our cars at some point. It’s always nice to have a change now and again. Sometimes, if we don’t sell, we’ll end up with a worthless vehicle in a few years time. It’s up to you whether you end up in that situation. If you want to sell, you need to know what you’re doing. Make a bit of profit.
That said, there are quite a few things you need to know about selling a car. Is it the right time? Is my car still worth selling? How do I go about selling my car? These are all valid questions. There’s a lot of simple solutions that have been made much stronger because of the internet in the last 20 years. Let’s take a look at what you need to know.
Is It Time To Sell?
There are so many factors that come into play when you’re looking to sell a car. Firstly, it’s all down to personal choice. You might have a car that’s in perfect working order, but you want to upgrade to the newer model? That’s fine! You’ll be able to get a lot of money for your old one if it’s in good shape, and you can put that towards your next purchase. Don’t fall into the trap of thinking that you must wait until your old one goes wrong. Many people do this, but you only live once! If you’ve got the ability to splash the cash on something better, go for it.
What if you’re happy with your car, but you still want to make a profit when the mileage starts to rise? Independent studies have shown that car reliability tends to falter around the five-year, 60,000-mile mark. From this point forward, your car will start to drop in value rather rapidly. That doesn’t mean you have to get rid of it, though. Diesel’s will hit 200,000 miles quite easily, and petrol cars will make over 100,000 with little effort. If you’re happy to keep going, especially if you don’t drive too often, go ahead.
Alternatively, if you just can’t get on with that new car you bought, get it on the market quickly. The first twelve months of any car purchase is normally when it’ll retain its value on the used car market. Sure, you’ll lose a bit of money, but you’ll get most of it back. Put this towards something different, and you won’t have lost out too badly. Of course, it’s important to do your research before buying any car, so keep this in mind. Hopefully, next time you won’t be in the same situation again.
You do need to keep in mind that the market can fluctuate. If you look to sell your car, and it doesn’t attract much attention right away, don’t panic! It can take some time to find the right buyer.
Is It Worth Selling My Car?
So, your car is dead and shows no signs of starting anytime soon. The mileage is getting pretty high, and you’ve had for quite a while. Is it time to just give up on it and start again? Well, in a lot of cases, the answer is no. Before you make any decisions, ask a mechanic to take a brief look. They’ll tell you the extent of the damage and whether it’s worth selling. If it’s not as bad as you think, take the plunge and ask them to do some work on it for you. You should be able to make a profit anyway.
When considering selling your car, don’t worry about things such as tax and MOT too much. It’ll be a benefit if you’ve got these bits sorted, but new car owners will take additional costs into account. What you might see as a worthless vehicle, might be an important runaround to someone else. Don’t leave your car to rot; get it checked out and make some money in the process.
Maybe you think that your car is too valuable to sell? You might feel short-changed that you didn’t get the best out of it? If you’re thinking of selling a car like this in the first place, it would appear that you aren’t too keen on it. What’s valuable to one person is a waste of money to the other, and there’s no shame in getting rid. Let someone else enjoy the luxuries of an expensive car, and pocket the money for other things instead.