When should you sell your car without losing too much money?
The purchase of a new vehicle is by no means an investment. In the first year, the car loses between 15 and 30% of its value, and resale can cause you to lose more or less money depending on the vehicle.
To determine when a car should be sold without suffering a big financial loss, several aspects should be taken into account:
Neither too early nor too late
As we explained to you previously, a car loses up to 30% of its value in the space of a year. Selling your vehicle after having lost so much money and without ultimately having driven a lot with it is useless unless you benefit from a very interesting discount when buying your next car.
Conversely, the longer you wait to sell your vehicle, the greater the discount will be, the more you will have to carry out repairs on the same vehicle. At the same time, your contribution for your future car will be lower.
French motorists drive an average of 13,000 to 14,000 kilometres per year, knowing that the ideal would be to resell the vehicle at around 60,000 / 70,000 km, you will have every interest in reselling your car every 4/5 years. So you avoid all repairs including replacing the clutch, shock absorbers or timing belt.
In other words, either you sell your vehicle in the months following the purchase and you will “narrowly” avoid the 30% discount, or you keep it 4/5 years and you will avoid any repairs linked to the wear of the vehicle. car.
Another piece of advice: it is preferable to sell your vehicle before the marketing of a new model within the range because this arrival could increase the discount and therefore lose between 5% and 10% of the initial value of the vehicle.
If you drive a lot, that is to say, if you exceed 14,000 km per year, it is advisable to sell your vehicle fairly quickly: the discount will be lower because it is still recent, and it is worth better sell your vehicle before the car undergoes wear and tear repairs. (Clutch, braking system, etc.). If you wait too long, the car may lose value, and repairs will be at your expense.
Seasonal variations affect the second-hand market; depending on the month and the season, you can sell your vehicle for more or less. You will also take longer to sell your vehicle depending on the time period you sell it.
For example, January is often the quietest month in terms of transactions, it will be difficult to sell your vehicle quickly, and buyers will try to negotiate as much as possible. On the contrary, you will have a much better chance of selling your vehicle between September and June at a slightly higher price.
Depending on the category of vehicle you want to sell, you also have to be strategic: city cars and older cars at low prices will sell very well in September because the temperatures start to rise and people are looking to travel around. As for station wagons, station wagons, minivans and 4x4s, it would be wise to sell them before leaving on vacation. Convertibles are more successful when the weather is fine, that is to say in spring and summer.
If you want to buy from a professional, choose the end of the month and the end of the year; salespeople receive bonuses based on the number of sales or turnover; they will therefore be more open to negotiation at the end of the month if their objectives are not achieved.
If you have a car that you want to sell without waiting around, you can approach Cars Wanted Newcastle. We buy cars all year round and yours is not an exception. Contact us for more inforation about selling your vehicle.