Wednesday, June 26, 2013

Selling Your Car - What Time is Best?

It's a well known fact that car prices fluctuate wildly throughout the year. They can be influenced by a whole host of things the weather, the season, public events, even celebrities. In order to get the best price for a car, you need to sell it at the right time. The question is, how can you ever know when the right time to sell a particular car might be?

Fortunately, there are some tell tale signs that you can use to make sure that you'll get the best possible price for your vehicle. Here are some of the questions that you must ask yourself before you decide to sell.

Is The Car Paid For?

You are advised to find out whether or not you are 'upside down' on the loan you used to pay for the vehicle. If you paid for your car using cash this isn't an issue, but if you paid using credit it can be a big problem. For example, you buy a new car for a total of £35,000. After three years you decide to sell it. Your payoff on the loan is still £15,000, but your car is now only worth £12,000 leaving a shortfall of £3,000 that you still must pay for. If you are 'upside down' on a loan, you are advised to hold on to the vehicle for as long as you can or you will lose money, says AOL automotive expert Jim McCraw.

What Condition Is The Car In?

Ideally, you should sell your car before it hits 100,000 miles. It will become more difficult to sell after this point not impossible, just trickier. Even if the car is in excellent condition, the amount of miles will drag its price down, says CarsDirect.com. If it's going to cost a huge amount to repair or refurbish your car, it could be a better idea just to trade it in at a dealership or sell it for its scrap value.

What's The Price Of Gas?

This is a really important issue to consider when selling a car. Obviously, there will always be demand for automotive vehicles no matter how high the price of gas, but this factor will change the types of vehicles that are popular. When gas prices go up, so does the sale of hybrids and fuel-saving compact cars. If you're wanting to sell a gas guzzling SUV it's probably best if you wait until fuel prices are relatively low and vice versa.

What's The Weather Like?

Most sellers don't give the weather any thought at all before they go ahead with advertising a vehicle. It happens to be one of the most important factors involved with selling a car. Take a look out of the window. What type of car is best suited to today's weather? If it's snowing, you're not going to be able to shift a sports car with a soft top roof, says Rolls Royce dealer Tom Hartley. In the blazing midst of summer, few people are going to want to be driving round in a hulking great SUV or 4X4 unless they live on a farm or are big fans of off roading.

What's Popular In Your Area?

Use the internet to find out what types of cars are the most popular in your area. AutoTrader has an online search feature that will allow you to look at all the used cars currently being sold in your town. If you repeat this same search several times over a month, you'll start to build up a picture of which cars sell fastest and which tend to languish on the website for the longest. If you're selling a Toyota Yaris and the AutoTrader website is full of the things you might want to keep hold of it a little while longer.

How Lucky Are You?

Though there are several things you can use to pinpoint the perfect time to sell your car, when it comes down to it luck rules all. There's always going to be somebody strange and illogical looking for a convertible in the middle of winter. Who's to say you won't cross paths at just the right time?

Author Bio: Jane is a used car salesman. She recommends Inchcape Lexus for the best new and used Lexus models. She can be found online sharing buying and selling car advice.


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