Sports Cars and Convertibles
While your favourite speedster might have outrun its use for you, there is still a huge market for convertibles in the country. What will pay is to put yourself in the shoes of the buyer. What is the best time to drive down the coast with the top down? That’s right when it comes to your posh convertibles and sports cars, the feel factor plays a huge role.
Wait it out till September to make your sale. Come September, people are looking to make the most out of the warm weather and are more likely to splurge on a decadent sports car. What also helps are the tax rebates that arrive in October. We would however warn against waiting too long to sell the car. As the holidays arrive, people are unlikely to purchase cars and would rather retire back home to spend time with their loved ones.
The golden window to sell your car would be between September and November.
Station Wagons and Family SUVs
Once the Christmas and New Year festivities subside, there is one subset of the population that’s looking to buy your trusty large seater. Families with children have many things to tend to before the ‘back to school’ season starts. They are keen to trade in their old car for a new car with the boot space and seating to meet their needs.
When selling your reliable family car, it makes sense to wait till February to reap maximum returns. The arrival of autumn however signals poor returns on selling your car as a saturated used car market means no one is willing to pay a premium on your car.
Get the most out of your sale by selling your car between late January and February.
Economically Priced Sedans and Hatchbacks
If you’re looking to replace your sedan or hatchback with a more high-end model, there is someone out there that will appreciate you selling your car. You will get the best deal on your old hatchback or sedan in November, which is when most incoming uni students are on the lookout for their first cars.
We are all familiar with the excitement and anticipation of driving our first car. We also know that what students need first and foremost are affordable options when it comes to making the purchase. Your reliable old cars will make for wonderful first cars for eager students.
You would be better off selling your car before the study period and the holiday rush commences between November and early December.
When You Should Sell
- Just Before You Have To
When it comes to selling cars for cash, remember you are selling a history so it does not bode well if your car is in poor working condition. When it comes to selling cars, the golden rule is to sell before it starts showing signs of wear and tear. You don’t want to keep with the rising cost of maintenance and receive the lower end of the bargain.
- When it is Damaged
As a car owner, one thing to learn is to know when to cut your losses. A car that has been in an accident or damaged due to a natural calamity is going to be hard sell as time goes by. Pouring money into fixes also gets more and more expensive over time. You will be wiser to sell your car or trade in at the earliest.
- With the Warranty Intact
Perhaps your new car is simply not the practical choice for you or you think it’s time for an upgrade. Whatever the case maybe, when it comes to selling your car that is new the old adage still holds true. Cars do lose their value once it’s driven off the lot, offering some warranty and a longer registration will sweeten the deal and fetch you a higher price.
When You Shouldn’t Sell
- When Petrol Prices are High
When trying to sell your car that’s a gas guzzler, it won’t help you if the price of petrol is at an all time high. People are less likely to spend on large cars when the fuel market seems formidable. So consider waiting out the price spike.
- Beginning of the Financial Year
Unless you’re trading in, July is pretty much the worst time to sell your car. People are more conservative with their finances, car dealerships are endlessly promoting their EOFY sales and winter is here. There are one too many reasons not to settle for a poor price when you sell your car during this season.
- Under the 3-Year Mark
Car depreciation is the looming ghost us car owners have to deal with when it comes to selling our cars. The car loses value by 15-20% each year in those first few years. So you will be facing a loss without fully making use of the automobile if you try to sell your car too early. You can however expect a better bargain if you sell it under the 80,000km mark and minimal damage.
When it comes to buying and selling, timing sure is vital. Consider the make, the model, the condition and the market before you take the call. One you have the needed information, selling your car for a profit will be no trouble at all.