For many of us, a car is more than just a means to get from Point A to Point B.We spend so many years with our rides that it’s almost impossible not to develop a little bit of a bond. Even drivers who curse their old junkers tend to have a little bit of affection for their rickety old heaps.
And the data reflects that. Trends over the last several years have shown Americans holding on to their cars for longer than ever before. While a big part of that is just economics, it’s hard to deny that it’s hard to say goodbye.
So it can be hard to figure out when to sell a car. That’s why we’ve assembled this list of points to help you decide if it’s time to move on.
- When Your Old Care No Longer Suits Your Needs
One of the most common factors in deciding if it’s time to bid your old car farewell is changing life circumstances.
It could be taking a job that requires more reliable transportation. It could be settling down and starting a family. Or it could be watching a family grow up and leave the nest. Whatever the case, our lives will change, and our cars don’t always fit into them anymore.
Whatever the case, a change in priorities often signals that it’s time for a change of wheels as well.
- Before It Becomes a Liability
If your car is still in good working order, but you’re weighing whether or not you’d like to upgrade, this is a good point to bear in mind.
If you want to offload an old car with the least amount of hassle while getting to most money for it, you’re going to have to do it while it’s still a car worth buying. Even if you’re still a long way off from a major mechanical issue, all it takes is some cosmetic damage to seriously hamper your resale prospects.
Rarely do cars ever age like wine, so if you’re on the fence, maybe let the prospect of an easier, more lucrative sale push you in one direction.
- When the Cost of Maintenance and Repairs Exceed the Car’s Value
They say time makes fools of us all, and that’s definitely true in the case of cars. No matter how expertly designed, wear and tear will eventually take their toll, and hanging onto your old car just won’t be a good financial move anymore.
Sometimes this will be a no-brainer, but it’s not always so obvious. That’s why anytime you take your car into the shop, you should ask your mechanic for not only the bill but their estimate of major repairs and maintenance within the coming year. Compare that to your car’s Kelly Blue Book value, and decide if it’s worth holding onto.
It’s also worth noting reiterating that the longer you wait, the less you can expect to get for it. But there are options. Plenty of services specialize in buying up older cars, usually finding one just takes searching for the phrase “sell car near me“.
It Can Be Tough to Determine When to Sell a Car
Both financially and emotionally, choosing to let go of your old car can be a difficult decision. But knowing when to sell a car before life forces your hand can save you a lot of money and headaches in the long run.
For more car tips and news, always keep up with the latest from Mr Vehicle.