When Is the Best Time to Sell a Used Car?
The used car market was one of the few markets that benefited from the pandemic. Since global supply chains hampered the production of new cars, consumers turned to used cars.
Used car sales grew by 10% in 2021. Prices increased by 21% between 2020 and 2021, with the average used car selling for more than $27,000.
If you’re looking to sell your car, it seems like now is the best time to sell a car. It may seem that way, but there are a lot of factors that determine if you can make the most money from selling a car.
Read on to learn what they are and when it’s the best time to sell your car.
Type of Car and Consumer Demand
Have you ever noticed the types of cars that get advertised during certain times of the year? In the winter months, you see four-wheel drive vehicles going through the snow.
The summer months feature convertibles and sports cars. Camper vans and recreation vehicles are popular choices this time of year, too.
That’s because people are thinking of immediate uses when they buy a car. They’ll get a sports car in time for summer cruising and all-terrain vehicles for a ski trip.
The best time of year to sell a car depends on the type of car you have. You can sell a car when people are ready to enjoy it.
Another factor that drives demand is the price of fuel. Whenever gas prices rise, demand for hybrid and electric cars rises with them.
If you have a fuel-efficient car, now is one of the best times to sell your car to take advantage of higher gasoline prices.
Where to Sell a Car
Where can you sell your car? Start by knowing your car’s value.
No matter where you sell it, the car value is a guideline to use to make sure you’re getting the best price.
There are car valuation tools like Kelly Blue Book and Autotrader that get give you an estimate of the value. Be sure not to overstate the condition of the car. This throws off the estimate and you’ll get frustrated when you receive lower offers.
Once you know what the car is worth, you can explore your options to sell the car. You can list it online on sites like Craigslist or Facebook Marketplace.
You’ll have to weed through people and take them for test drives. You’ll then have to negotiate and try to get the best offer for your car.
The alternative is to find a company that gives you an immediate quote like this one. You can accept their offer and finalize the deal quickly and with little hassle.
The Best Time to Sell a Car
When is the best time to sell a car? It depends on the type of car you have and what is top of mind for buyers. Keep that in mind before you list your car and you’ll get it sold in no time at all.
For more helpful content, check out the other articles on the blog.