You may decide to sell your car for various reasons; these factors include the condition of the car, age, and overall performance of the car. Usually, this question is in the customer’s mind “What mileage should I sell my car?” Actually, a specific mileage is not relevant for selling a car because the lifespan of a vehicle is completely different depending on the type of construction, model, and maintenance history. But again, in general, there are recommendations in this matter that cash for cars Clagary is going to talk about in this blog.
Why is mileage an important consideration when selling your car?
Car mileage is one of the important criteria and can play a decisive role in the process and time of selling your car. In fact, this factor is one of the influencing factors in the car valuation process because it shows the car’s remaining life.
Usually, buyers’ perception of your car will be based on its mileage. A vehicle with low mileage is usually more attractive to used car buyers than a high one. But you should remember that selling the car early can result in losing much money. You should also not wait until a long time has passed because finding someone to buy a used car is difficult. As a result, you must sell your car with the right mileage.
What mileage should I sell my car?
The fact that you know exactly “What mileage should I sell my car” makes it easier for you to find a buyer and also ensures that you get the most out of your car. Usually, new cars depreciate the most in the first year. The value usually decreases when the car reaches 36,000 miles and is no longer covered by the manufacturer’s warranty.
- If you want to get the car’s maximum value at the time of sale, our advice is not to sell it in this situation.
- If you hope to sell your car without repairs, we suggest selling it before it reaches 60,000 miles. In this case, you may not get the most value for your car, but selling it will not cost nearly as much as the first few years.
- To get the most out of selling your car, 60,000 to 100,000 miles is the sweet spot. Of course, expensive repairs may be needed, but if you continue with scheduled maintenance, you can get a good price for your car.
- Any car above 100,000, regardless of the condition of the car and its capabilities, is less desirable for buyers. These cars are considered risky investments because they will likely need expensive road repairs soon. As a result, you may face various problems in finding a buyer for these cars, and even if you find a buyer for them, you may not get much from their sale.
Factors to consider if you want to sell your car
Car depreciation
Most of the time, when you receive the car keys, the price depreciates. The first year of a new car’s life has the greatest decrease in value, which can be up to 30% of its original market value, and when a car is three years old, it is likely to decrease by 50% of its original purchase price.
By looking at these percentages, you can see that at least three years before you decide to sell your car, do the necessary maintenance because the biggest loss is before this point. This is the best time to sell the car’s depreciation because the normal depreciation rate decreases after three years, especially if you have maintained your car well and it has been in good condition.
The general condition of the car
If you have a popular vehicle and it’s time to sell it, you’re going to be competing in a very crowded market, so to make sure your vehicle stands out and gets the best price, You must keep it in good condition. If your car is healthy and needs minor repairs, it is worth doing so, but always consider the repair cost against the car’s potential sale price.
Mileage
As we said in the “What mileage should I sell my car” section, the number of miles traveled by your car directly affects the price of your car, so it can also affect exactly when you choose it in the market. The higher the mileage, the less likely it is to sell or trade-in value. The ideal point to sell your car is between 60,000 and 100,000 miles on the clock. After this range, the value of the transaction decreases a lot.
Your personal circumstances
Various elements in your life can determine when you should sell your car. For example, you may be moving or need a different type of car or have a change in your financial situation. Whatever type of car you have, you should consider your personal conditions before selling it.
Signs it’s Time to Sell Your Car
In this section, besides the “What mileage should I sell my car” topic, we want to discuss the signs that indicate the right time to sell a car:
The cost of repairs is more than the value of the car
One of the most obvious signs is that the cost of car repairs is more than its value. If you constantly take your car to the mechanic, it is probably time to consider an alternative. Cash for Cars Alberta can provide a hassle-free solution and put cash in your pocket.
Safety concerns
You should always consider the safety feature of the car. If your car lacks modern safety features, it may be time to sell it. Things like faulty brakes, airbags that don’t work, poor vehicle structure, and more can cause significant hazards.
Poor fuel efficiency
Older cars are more fuel efficient than more modern cars due to advances in engine technology. If your car gasses much faster than before or compared to newer models, selling it to a junkyard and upgrading to a more fuel-efficient vehicle may save you money in the long run.
Frequent breakdowns
If your vehicle breaks down a lot and doesn’t get you to your destination most of the time, it’s clear it’s time to sell it. In addition to being a hassle, frequent breakdowns can be a safety hazard and increase towing and repair costs.
Extensive damage to the body
Significant damage to the car body caused by accidents, rust, or wear can significantly impact the performance and safety of your car. If the cost of recovering the car body is more than its value, selling it to a junkyard is a great way to compensate for part of the loss.
Read more: Things to do before selling your car | 5 steps
