When’s the Best Time of Year to Sell a Used Car?

Selling a car can sometimes be one of the most challenging tasks, and you’ll want to make sure that you get as much money as you can when that time comes around. But when is the best time to sell a car? What factors do you need to take into account to maximize your opportunity?

Understand Market Cycles and the Impact They May Have

Hidden market cycles can often make a difference to the car market, which may fluctuate based on demand or other economic factors. For example, car prices might go down in the fall as there is lower buyer activity, so you may want to avoid that period. Conversely, there is higher demand at other times of year, such as spring, the beginning of summer, or tax refund season.

Beware of Seasonal Trends

Seasonality may also affect the actual resale value. Convertibles may be in high demand when the weather gets better in spring and summer. On the other hand, all-wheel drive vehicles and SUVs may be more popular as the nights draw in and winter approaches. If you can align the sale of your car with some of these seasonal trends, you may maximize value.

Consider the Vehicle’s Age and Condition

As you may know, depreciation can affect the value of a new car, especially during the first few years. So, your vehicle may typically hold better value between years three and five, if you maintain it well. Regular maintenance is very important, and you should take care of any minor repairs as soon as they are needed. This will keep the car in top shape for resale.

Watch That Mileage

The mileage on your vehicle may influence both the actual resale value and the way that a buyer looks at it. For example, a vehicle that has lower-than-average mileage could command a higher price and be more popular. Therefore, it’s best to sell if you have a major mileage milestone approaching (such as 100,000 miles), to get better offers.

Think about Incentives

You should talk to your dealer to see if there are any incentives available, as these are sometimes offered. Be sure to keep an eye on dealerships buying used cars and any incentives offered. This may help to boost trade-in value and make upgrading your car more accessible.

Be Aware of Economic Factors

In times of economic uncertainty, it’s not unusual for used cars to be in higher demand, which could potentially increase the resale value. Higher interest rates can also impact the demand for used cars.

Talk to Lexus of Mobile for an Evaluation

As you can see, you may need to take into account several factors as you seek to sell your car or truck. For further information and advice about the best time of year to sell a used car, reach out to the friendly staff members at Lexus of Mobile. They’ll give you an evaluation and offer a competitive quote.

Visit the Lexus of Mobile dealership today to explore your options. You can take advantage of our advice free of charge to help you make a decision.