There are a number of factors that you can depend upon to know whether it is the right time to sell your used car. That said, not all factors are equally important as some factors are more prominent than others. In this article, we are going to throw a light on the most important factors that give you a clear cut idea that the time has come to say goodbye to your beloved car before it is too late.
1) Your needs have changed and your car doesn’t fit in the scheme anymore
With the passage of time, our needs and requirements change and accordingly, the product and services we utilize should also change. Considering this in the context of automobile where needs and wants of a student going to college by car will be different from an office executive using the car for up and down purpose. Similarly, a family of three will differ considerably from a joint family with eight members in terms of space and comfort that they require from a vehicle. When you find that your current car is no longer able to you meet your requirements, you must make your mind to sell the car. There is no reason to delay the decision just because you are so much attached to your car or some family history is involved and so on. Think objectively and there is no use of keeping the old car in your garage even as you go and buy a new car.
2) Newer Models and Competition
Thanks to the increasing competition in the Indian automobile industry, companies today are launching new models earlier than before. A car used to have at least 8-10 years of the life cycle in the past but now stretching a model even over 5 years is a very competitive thing. This fast-changing scenario has implications for you also; implying that you should sell your car before your model becomes obsolete. No buyer prefers the old models of cars which have been discontinued in the market. If your model becomes obsolete or manufacturer discontinues it, you will face difficulty in finding a buyer. Even if you find one, the probability of getting a good price will be very low.
3) Higher Mileage is a Strict No-No
Kilometers (km) covered by your car are inversely proportional to its selling price. The price of the car which has done 30,000 km will definitely be more than the car which has clocked 50,000 km. If you want to sell your car, make sure the mileage will remain under a respectable point as every kilometer covered by the car has some cost attached to it. Keep the mileage under 50,000 km or 75,000 km while you sell your car to get a good resale value. If your car exceeds 1,00,000 km, then there will be a significant drop in the value and accordingly, you might not be able to get a good deal for it. In addition to the mileage, the time period of warranty also plays an important role in the car’s resale value. If your car is still under warranty while you are selling it, it is sure to fetch good value as the buyer will ready to pay you extra for the warranty period.
Also Read:- How to Sell My Car Fast?