We make the journey of selling your loved car easier
ONSIDER THE FOLLOWING WHILE SELLING YOUR USED CAR
Any city in the world might be the hub of luxurious and deluxe automobiles and a home to many owners of different car brands, However, the high demand for used cars doesn’t always make it easier for car owners to sell their cars at the right price. Here, YOCARS2DRIVE.COM comes to the rescue by providing car owners with the best offers to sell their beloved cars from the comfort of their homes and at the best reasonable prices.
When Is the Best Time to Sell Your Car?
Just like how there are times that are better than others to buy a car, some are better for selling your car. You want to pick a time when you can get the most money with your sale or trade-in, with the minimum amount of hassle and time spent.
Some factors you should look at include the mileage and condition of your car, whether you have it paid off or have positive equity, and how strong the demand there is for your current vehicle. You want to pick a time when you can devote the energy to preparing your car for sale and working through the sales process without rushing.
Today, the demand for used cars is high, which may make it a good time to sell your current vehicle. In fact, your car may be worth more now than it was a year ago.
On the following pages, we’ll look at the things you should consider when deciding whether the time is right to sell your car.
Before, You Need to:
The best time to sell a used car is before you need to. If you wait until it absolutely needs to be sold, you may be forced to take less money than you should be able to get out of it.
Time pressure can lead to mistakes when you negotiate and sell. You need to have time to prepare your car for sale, determine where to sell it, negotiate with buyers, and complete the paperwork. Rushing through any step can cost you money in the end.
If your current ride is in imminent danger of breaking down, you want to sell it before it does. A vehicle that’s running, with most or all of its systems in working order, is worth more than one broken down on the shoulder of the freeway. You might even face expensive towing costs or repairs to make the car sellable.
When the Time Is Right for a Replacement
A car that served your needs when you bought it simply may not meet them today. When that happens, it’s time to sell and pick a better option.
Before you sell, it’s critical to have enough money for its replacement. That means researching the market to find your next car and getting pre-approved financing in place.
Yes, used car prices are high right now, leading many car owners to consider selling their current cars. The trouble is, you’ll likely want to replace it with another pre-owned car or a new vehicle, and their prices have risen as well. Just because you can command a high price today for your used car doesn’t mean you’ll have more buying power when you’re looking for a replacement.
When the Weather Is Right
Car buying and selling have seasons. Fewer buyers are in the marketplace when the weather is wintery or blazing hot. In much of the country, spring and summer are the best times to sell a car.
While three-day weekends can give you the time to prep and sell your car, holidays can be tough. Many buyers are focused on family activities or long weekend trips. New car dealers tend to be inundated with trade-ins when they have great sales, such as on New Year’s or Memorial Day. That oversupply, in turn, drives down the value of all used cars in the marketplace.
You also need to consider the type of car you’re selling. SUVs and crossovers may sell strongly in the fall, as buyers strive to prepare for winter weather. Convertibles, on the other hand, may be a hard sell as winter approaches.
When Repairs Costs Are Killing Your Budget
If your paid-off car is costing you more each month than it would cost to get a newer one, it’s a good time to think about selling. The same goes if the cost of maintenance and repairs eclipses your current monthly car payment.
It can be tough to save enough for a down payment if your current vehicle frequently drains your savings. At some point, selling your car – even if you don’t get much out of it – will become necessary to stop your financial bleeding.
You also want to anticipate future spending. If you’re facing expensive maintenance, such as new tires, selling your car sooner than later is a good idea.
Before Your Next Major Service Interval
A common question among car sellers is whether they should perform expensive maintenance or repair costs before they sell. In most cases, the answer is no. You’ll rarely get the money you spend on repairs or maintenance back when you sell your car.
That means selling your car before the indicator light for its next major service interval comes on, and not spending hundreds of dollars on those new tires just before you’re going to sell. Of course, putting off the repairs and maintenance potentially lowers the value of your car, but the hit is usually less than the cost of the service.
An exception is when you need to perform a relatively inexpensive repair to get your car running again after a breakdown. A drivable vehicle is almost always more valuable than one that won’t move.
When You’re in Danger of Defaulting on Your Car Loan
When faced with the choice of selling your car or defaulting on a car loan, sell the car. That’s true even if you are underwater on your financing. Becoming delinquent on your car payments, defaulting on your auto loan, or facing repossession damages your credit score.
A couple of late payments might lead to a higher interest rate on your next car loan, but a default or repossession could make it nearly impossible to get another loan for the better part of a decade. At the least, it would make any loan you can get extremely expensive.
When You’re Not Underwater
Unless you’re facing immediate default or repossession, you don’t want to sell a car when you owe more money than it’s worth. Not only will you owe the difference to your lender, but you will likely have to repay it as soon as you sell the car.
When you have positive equity, you can sell your car, pay off your car loan, and still have money to use as a down payment on your next set of wheels. If you’re underwater, your best route to positive equity is to continue to make on-time monthly payments.
With today’s exceptionally high used car values, car owners who may have been underwater just a few months ago may have positive equity today.
Before You Hit Significant Mileages
Is there a difference between a car that has 99,500 miles on the odometer and one that has 100,500 miles? Probably not. In the minds of buyers, however, the 100,000-mile mark is one of those mileage landmarks that makes them believe a vehicle is worth less money.
Other mileage points that give buyers pause are the end of the vehicle’s bumper-to-bumper warranty and the end of its powertrain warranty. Smart buyers will know what mileages a vehicle’s service intervals are, and will figure that into their offers.
If you have a choice, and the timing is right, sell your car before reaching a mileage milestone.
Before a New Model Year Starts
With the debut of a new model year, every previous model years’ value declines a little more. A vehicle’s age is based on the month the latest model came out.
To get the best used car price, sell before the next year’s model comes out – regardless of the age of your car. In general, a used car that’s a year newer than a similar car with close to the same mileage will be more valuable.
When There Are Safer Alternatives
If you no longer feel safe driving your current car, it’s time to consider selling it. That feeling of safety might stem from its loss of reliability and tendency to break down, or it might come from a lack of advanced safety features.
It’s true that today’s many new cars have a plethora of available safety and driver-assistance technologies, including now-required rearview cameras and other features that have become standard on a wide range of models. Features such as automatic emergency braking, blind spot monitoring, lane keep assist, and automatic high-beam headlights have the potential to prevent collisions or reduce their severity.
More Shopping news from yocars2drive.com
The first step in any car-buying experience is determining a budget. Once you’ve done that, it’s time to find a car that meets your needs and lifestyle.
When you’re ready to buy, the yocars2drive.com connects shoppers who want to buy or lease a new car with local dealers. It offers significant savings with pre-negotiated prices, home delivery, and online sales options.
Another great way to save money is with a special car incentive. Our new car deals page highlights money-saving offers with special financing deals or cash back. yocars2drive.com is the place to find offers with low monthly payments and little due at signing.
An easy way to sell your used car is with an instant cash offer. You can read more here
You’re not done with any new or used car purchase or lease until you have the right insurance. Our guide to car insurance takes you through finding the right coverage, money-saving car insurance discounts, and the cheapest auto insurance in your region
When Is the Best Time to Sell Your Car?
- Before you need to
- When the time is right for a replacement
- When the weather is right
- When repair costs are killing your budget
- Before your next major service interval
- When you’re in danger of defaulting on your car loan
- When you’re not underwater
- Before you hit significant mileages
- Before a new model year starts
- When there are safer alternatives
Get a real offer in 3 minutes & payment on the same day!
Sell your car in 3 simple steps
- Tell us about your car. Use our online valuation tool to get the actual fair market value of your car. No tricks, just facts.
- Let’s inspect your car. Choose our free home service or pass by the yocars2drive.com Hub for us to inspect your car.
- Get payment on the same day. Finalize the deal with minimal paper work and receive payment on the same day. Ready, signed & sold. Done deal
