When is the Best Time to Sell My Car?

1. 1. Before You Need to

   Don’t wait until you’re forced to sell your car — you might end up compromising in negotiations and receiving a lot less for your vehicle than you’d like. Waiting until you’re desperate to sell could also lead to rushed paperwork (and potentially costly mistakes). We recommend starting the selling process before you need to, as this will give you the time and breathing room to find the right buyer. Plus, since your car is constantly depreciating, you’ll get more if you sell sooner rather than later.

2. 2. Before a New Model Year Starts

   Once a new model year begins, vehicles from all previous model years lose value. For example, when new 2024 Lexus models became available, 2023 models and older dropped in value to varying degrees. To get the best price for your model, sell it before the new model year lineup is released.

3. 3. Before Significant Mileages Hit

   Consider selling your car before its odometer hits the next significant mileage marker, such as 100,000, 150,000 or 200,000 miles. While there isn’t much physical difference between a car that has 149,000 miles and one with 150,000 miles, buyers will see the bigger number and consider your vehicle to be worth less. If your warranty is still active, you’ll want to sell before it expires, since buyers will see any warranty coverage as an extra incentive to purchase your vehicle.

4. 4. Before Your Next Major Service

   We’re not referring to your next oil change or wiper replacement, but rather to any major, expensive repairs. You aren’t likely to recoup the money you invest into repairs when selling your model, so don’t break the bank on a new engine or transmission right before selling. Just sell your vehicle as-is.

5. 5. When Repairs Costs Are Killing Your Budget

   Do you feel like your vehicle is constantly in the shop? It’s probably time to sell it. A new car will need far less maintenance than your old one, and if you’re currently paying the equivalent of a monthly payment in repair costs alone, why not upgrade to a reliable new vehicle you can trust? Whether you trade in for a brand-new Lexus or one of our qualitypre-owned models, you won’t have to worry about constant breakdowns — you can just relax and enjoy the drive.

6. 6. When You’re Not Upside Down

   While you may be eager to sell, we don’t recommend doing so if you’re upside down on your loan. Being upside down means you owe more than your car is worth, and it’s not an ideal position to be in. If you sell the car, you’ll have to pay the difference to your lender. We recommend paying off the car before selling it, if at all possible.

7. 7. When You’re in Danger of Defaulting on Your Car Loan

   If there’s a possibility that you might default on your loan, sell as soon as possible. Your credit score hangs in the balance, and if you default, your next loan will be astronomically expensive — if you’re able to get a loan at all in the next decade. Selling your car is the best option in this situation.