Are you thinking about selling your car? Maybe you’re looking to upgrade to something newer or simply need the extra cash. Whatever your reason, timing can make all the difference in getting the best price for your vehicle. In this blog post, we’ll discuss the best time to sell your car and important factors to consider before putting it up on the market.
The car itself
The main factor that influences the price you receive for your car is the car itself!
A car's value can depreciate by 15-30% in its first year alone. This steep drop continues until the car reaches around three years old, at which point it may have only half the value it did when you first bought it.
The three-year mark can also be a good time to sell if the car is in good condition. You'll have gotten a lot of use out of it by this point, but it could still be in high demand.
While some cars may develop issues once they hit the 70,000 mile mark, many others will continue to run smoothly well beyond 100,000 miles. To determine whether it's time to consider selling your current car, it's worth keeping track of how much you're spending on servicing and maintenance.
Seasonality
Did you know that the season in which you sell your car can make a difference in the amount you can get for it? If you’re considering parting ways with your car, you may want to hold off on selling it for a month or two to make sure you're getting as much money for it as possible.
During the summer, convertible and sports car sales typically increase, while in the winter months, SUVs and 4WD vehicles tend to be in higher demand. By taking these factors into consideration, you can strategically plan when to list your car for sale and potentially get more money for it than you would have otherwise.
Keep in mind that timing isn't the only factor in selling your car for a good price, so don't forget to do your research and make sure your car is in great condition before putting it up for sale.
Gift seasons
Gift giving times such as Christmas and university graduations (July-September) tend to increase the demand for cars because they're popular gifts at these times. Cars tend to be given as gifts to young people, so if you have a smaller, cheaper model that's good for a new driver, it could be worth holding onto it until these times of the year.
Industry factors
One time to avoid selling is when the new registration plates come in. This happens twice each year, in March and September, and many people choose to buy new cars get a new plate. This means they'll be selling their old cars to make way for their new one, so the market can get flooded with more used cars than normal.
If you're not also looking to trade in your car for a new plate yourself, we’d recommend leaving it a month or two around these periods to make sure you don't lose out on a bit of extra cash.
Sell your car instantly online with Sell 2 Swansway
There's a lot that goes into knowing how much your car is worth. Fortunately, we're here to do all the hard work for you. Our easy online valuation tool makes quick work of revealing the market value of your car.
Part of the esteemed family of Swansway brands, we're here to make selling your car easier and more convenient than ever before. With accurate quotes that reflect market trends, you'll never get less than what you deserve for your car.
So, for a quick, easy 7-day guaranteed valuation, hassle-free collection, and instant payment, there’s never been a better time to sell your car with Sell 2 Swansway.