Saturday 16 December 2023

When is it time to sell a car? These are 6 benchmarks you need to know


There may be a variety of reasons why you decide that your car has expired and it’s time to move on.

However, quite a few people are still unsure about when is the right time to sell their car immediately.

Quoted from CarBuzz, here are some considerations that can help you determine when is the best time to sell your car:

1. Safety

If you realize your car is not equipped with the latest safety technology such as an adequate number of airbags or blinds -spot assist, maybe it’s time to sell it.

Improved safety technology from the latest models can make any time a great time to sell a used car.

2. Maintenance

If finding spare parts for your car is becoming increasingly difficult and maintenance costs are getting higher than the value of the car itself, it may be time to consider selling it.

Expensive maintenance costs can be a sign that your car has reached the point of retirement.

3. Compliance

Vehicle regulations may vary between states or territories. If your car doesn’t meet emissions testing requirements or other local regulations, that could be a good reason to sell it.

4. Distrust

If you feel like your car is having more and more problems and you no longer have confidence in its reliability, this could be a pretty strong reason to look for a replacement.

5. Practical Reasons

Maybe your family is growing, you need a larger vehicle, or a change in lifestyle requires a different car.

Consider practical aspects such as vehicle requirements for work, outside activities, or geographical changes.

6. Financial Considerations

If you’ve been saving for a down payment on a new car or don’t think it’s economical to keep repairing an old car that’s worth almost nothing, it might be time to sell it.

Personal financial circumstances can also be an important consideration.

By considering the factors above, you can make an informed decision as to when is the most suitable time to sell your car. Don’t hesitate to consult an automotive expert or financial advisor if necessary.

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