Almost every motorist becomes a used car seller at some point. If you are already thinking about selling or trading in a car, this guide will help you choose the right moment and get the most out of the deal.
When is the best time to sell a used car? Several factors influence success, and they are not all related to getting the most money from a used car.
The best time to sell your car is before you urgently need to get rid of it. A time constraint may force you when market conditions are bad or your car has lost a significant share of value. You don't want your decision to be conditioned by your vehicle breaking down in the middle of the highway or days after your creditor took it from you.
A good time to sell and trade in an auto is when everything is functioning properly, and there are no notifications on the dashboard. You can look at forums when models like yours tend to experience significant failures. If you're getting close to that mileage or feel something's wrong, it's a good idea to listen to your intuition and change it to a better car.
The best season to trade in a used auto is spring and summer. This is when most buyers are in the market, and your chances of getting a top price are high.
At the other end of the scale are the winter holidays and the colder periods of the year. During the holidays, families are busy, and the budget is tight. You will have to compete with new car offers on Black Friday and dealers aiming to hit sales targets before the end of the year.
Another thing to consider is the demand for the type of car you sell at different times of the year in your region.
A wise way to gauge market demand is to look at online advertising. You may want to delay sales if you see many offers similar to your model in the local market. If there are few of them, you are more likely to get better deals.
There are many reasons why a vehicle might not fit your needs. It may be too big, too small, or too expensive for your budget - switching to a model that better suits your lifestyle is a fair reason to trade in your old car.
Remember: even standing in the garage, the car loses value due to depreciation.
If your vehicle is approaching certain mileage milestones, it's a good idea to sell or trade it in well before you reach it. Most car owners understand that as soon as a car covers 60,000 miles, its value drops significantly.
The depreciation of vehicles nearing the end of warranty coverage also grows as car buyers know that any repairs will come at a cost. Vehicles have different lengths of base and powertrain warranty coverage, but all will experience multiple drops in value near the end of each milestone.
Picky buyers study mileage, where different cars typically experience mechanical problems. You won't get the top price on an auto with 80,000 miles if its timing belt usually fails at 70,000 miles and you don't have maintenance records to prove you replaced it.
Mileage is not the only factor that will reduce the car's value. You'll get more money before the new model year appears in the showrooms. In other words, your five-year-old Toyota Land Cruiser is more valuable than your six-year-old Toyota Land Cruiser after the new updated model hits the US market.
It is important to remember that car model years do not correspond to calendar ones.
If you feel your old auto is no longer safe and comfortable for you or your family, it's time to sell it and buy something different. In the new generations of cars, technical advancements, and safety features have upgraded the level of comfort and safety.
In addition to passive features such as electronic stability control, airbags, and anti-lock brakes, many new vehicles come with advanced AI driver assistance technologies that can help prevent or reduce the severity of collisions.
Selling a car is never a headache if you opt for a trade-in at Indy Auto Man. Whatever season or model, you can be sure that you get the following advantages:
With 400+ used cars, SUVs, vans, and trucks, Indy Auto Man is the best one-stop shop for your car exchange. Drop by our Indianapolis car lot or browse the inventory and get your trade-in value estimation online right now!