Probably the first answer that comes to mind is the one that our coordinator Gerardo commented. “When a better one comes out” . That would be the ideal, but the sad reality of countries like ours is that sometimes the portfolio, gasoline and twenty thousand other factors prevent us from making that long-awaited leap to a car with better performance and a higher price.
The title of this post basically refers to some points that we must consider when selling our used car, which, as we all know, represents a very important investment, so we must plan its sale to obtain the best benefits, forgetting about the classic and hackneyed phrase of the “coyotes” that send your spirits to the ground , young man, remember that your car is devalued 30 percent as soon as it leaves the agency” .
Not all cars devalue the same
And this is an inescapable reality. The depreciation of a car depends on determining factors, such as the type, model, make and equipment of the car. However, there is a rule of thumb that during the first year, the value of your car can drop between 15 and 30 percent.
Then, starting in the second year, the value of the vehicle depreciates at a rate of 10% every 365 days. This is something you should consider if you plan to buy a car through financing calculated over three years.
Be careful with the mileage
This is another determining factor in achieving a good price for your car. Connoisseurs say that the average distance of a car should be around 20 thousand kilometers per year.
For drivers who hardly use their units , any time after taking it out of the agency is a good time to sell it. However, if you use it a lot, it is best to get rid of your vehicle when it has between 50 and 70 thousand kilometers. If you exceed that limit, consider that maintenance costs rise due to the need to replace key engine parts.
The time of year influences a lot when it comes to selling your car. Select the month of December, which is when everyone walks with a full wallet, thanks to Christmas bonuses, savings accounts, etc. Or, the month of May, which is when most companies distribute profits among their employees.
If they buy from you, sell!
That is a very popular saying and it refers to that if you already have in mind to sell your car at some point and suddenly someone approaches, they like the car and they make you a good offer , sell it!
Remember that currently, when financing offers in agencies are very attractive, what is left over are used cars for sale.
The model also matters
Another factor that affects depreciation is the business cycle of your car. Before it was difficult to know when the model-year of each vehicle would change, but now, thanks to Melbourne Cash For Cars, it is easy to know how many years are left of the current model of your car.
This is something that you should consider very seriously, since you will be able to get more in the resale of a car that is still in production than with one that is no longer manufactured or that will be replaced soon.