When you buy a car, you don’t think about its resale value. You are excited to buy it. But after a few months or years, you would want to replace it. Then you can’t ignore the resale value anymore.
Buying a car is a financial investment. Many might have bought the cars on loans. So, when you are selling it, you would want to have the best deal by selling it.
But how do you decide, what is the best time to sell your car?
- When you bought Car?
Prices of a new car depreciate heavily in the first year itself. As per statistics, the prices of a new car depreciates by about 50%. So, if you have bought a new car, try to keep it as long as possible. It won’t be financially sound to sell the new car in the second year itself.
On the other hand, if had bought an old car, the depreciation is low.So, check out the condition of the car and see how long it can be maintained properly before its time for a new vehicle.
- What Is the Use of your car?
Do you have more car than the number of people in your family? Do the car you intend to sell have less to no use? Then maybe, you need to sell the car rather than paying for the maintenance.
And if you drive the car, then what exactly you use it for? If your old car is still serving the purpose, keep it. But if your car is making you late in the office or your car is lying in mechanic’s garage for the most of the week, may be you should dump it and get a new one.
- Has the purpose changed?
Has your old car lost the purpose? Maybe you bought the car when you were single and now you have a family of four. And now you need a bigger car with more space.
Maybe, you were a sports car fan in your younger days. And you needed a car to race with your friends. But, now you need a car to drive to your office.
So, if your purpose has changed, it is best to sell the old car. The money that you get can be used to buy a new one which fits your purpose.
If you are looking to sell your old car then you must get your old car’s free online valuation done by the Rowley Car Buyers. They will come to your office or home in the UK and evaluate your old car. And if you like the price they offer you, you can get it sold at that very instant.