If you’ve owned your car for a few years, chances are you’re looking for an upgrade soon. With thousands of new and used models on the market, there’s no denying you’ve got plenty of choices! But, you might be thinking that you should just keep your car for a few more years.
After all; with today’s economic climate, who knows what could happen tomorrow? Still, I’d like to offer five reasons why it makes sense to sell up sooner rather than later:
Your car still works
It might sound like an odd reason but think about it. If your car is in good working order, it’s valuable. The longer you keep your vehicle, the greater the risk of major problems happening.
Soon you will reach a point where it doesn’t make sense to keep repairing things that go wrong. If you reach that stage, you won’t get much more than scrap value for your car. That’s why it’s a better idea to sell your car while it’s still in good shape.
Depreciation is bad on your make and model
The thing about car values is that they vary from one model to the next. You may have paid a lot of money for your car when it was new. But, what if it’s only worth a small fraction of that amount today?
If depreciation is bad on your particular make and model, it’s time to cut your losses. Get your car sold sooner rather than later, and buy a new car that holds its value better.
You spend too much money maintaining it
I read with interest a blog post on how some guy sold his beloved BMW X5. He said that it was a “good” car, but it cost him a fortune to repair. As you can imagine, luxury and executive cars cost more to maintain than cheaper models.
Does your heart sink every time you book your car in for a service? If so, you know it’s time to sell up and buy something that’s kinder to your wallet.
It’s easy to sell a car
Gone are the days where the only way to sell a car was by trading it in for a new one at a dealership. Nowadays, the Internet is a powerful tool that we can use to sell our cars.
For example, the AutoTrader site lets you have your ad seen by thousands of potential buyers. All you need to do is take some photos of your car and write a description of its condition. And, what’s more, you’ll end up getting more money for your car than from its trade-in value.
Your lifestyle changes and so do your motoring needs
Yes, you may be in love with your compact hatchback. Still, when you’ve got a family in tow, it’s just not practical for your lifestyle. There will come a time where you need a bigger time, and so you’ll need to sell your pride and joy.