Many people consider their cars part of the family, and they do their best to prolong the time they use their vehicles. But, if your car starts letting you down, you should consider the option of selling it, because you have to put in balance the advantages and drawbacks you have for owning this car. When owning your car costs more than buying a new one, it is a sign that you have to sell it. However, if you have this car for a long period of time, you may not know when you should sell it. Here are some questions you should ask yourself, if you want to determine the right moment.
Is your car about to hit a milestone?
First, it is important to determine what a milestone is. When you have to take your car for a major service, it is a milestone. Cars hit milestones every five years or every 100,000kms. If the moment is close, then you have to expect to spend a lot of money on servicing it. If you do not want to spend money on upgrading the state of the car, then you should list it on one of the car selling sites, but make sure to inform the buyers that it needs a certain service.
How much do you spend on fuel?
If your car is aged, you will start paying more for fuel. The latest models of cars are more fuel efficient and this means that you can save on fuel. You may think that your car is a green model, or at least it was when you purchased it. If you want to check if you pay more, you should compare how much you spent in the past for fuel for 15,000 km and how much you spend now for the same distance.
Are the market conditions favourable to sell?
There are times when a certain car is top of sales on the market. This is the first sign that you have to consider selling it before it loses its value. Before listing your car for sale, you have to check the petrol prices, the supply demand and the market conditions. Some cars are easy to sell during winter, while others are easy to sell during summer, because the weather conditions influence the market’s tendencies. For example, buyers are willing to purchase a convertible during summer.
Has your vehicle’s production line stopped?
When do you know if your car is old enough to sell it? Well, when its production line stopped. New models of cars are launched every year on the market. When a car model ceases from being manufactured, the cost of repairing and servicing it is higher and you may not afford to pay it. You will notice that its parts are harder to find, and because it is an old car, you need to replace some of them if you want it to function in safety conditions. Check the manufacturer’s website, if the car is no longer for sale it means that you should start searching it a new owner.