The Dilemma: Is It Time To Sell My Car?

You remember the day when you bought your new shiny car and could not get your hands off of it? Now, after a few years you’ve got used to it and spend more time looking at other cars than your own. A car is a depreciating asset that also has a useable life span. Before it is too late, you should ask: is it time to sell my car?

Depending on your lifestyle, preferences, possibilities, needs and use you give the car, the right moment to sell or trade your car may be 1 or 10 years. That part only you can decide. However, the BuyingAdvice team has put together five tell-tale signs that you need to find a nice “for sale” sign:

  • Rust – Also known as car cancer, the first signs of rust signal the beginning of a process of quick deterioration. If you want to get money out of it, and not just from the junk yard guy, sell it fast.

  • Significant decrease in gas mileage – If your car isn’t what it used to be when it comes to gas mileage, this may mean that the compression in the cylinders is declining. Although fixable, if it gets to this point, it’s probably not worth the expensive repairs.

  • If you see your mechanic more than your in-laws – A normal car may need a repair once or twice a year, but in and out of the shop every other month is a very bad sign.

  • You’re spending too much money on gas – Automotive technology has come a long way in the past few years, especially when it comes to fuel-efficiency. If you’re spending too much money on gas, explore other options available.

So, if you think it’s time to sell you car you better do it at the right time of the year. End of the year is not advisable because people have maxed-out their credit cards due to holiday’s shopping spree. Wait till the tax refunds start kicking in. Selling you car will be best during Spring and Summer.

If you have decided to begin selling your car, take a look our tips on how get the best automobile resale value.

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