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Every car owner will need to sell and upgrade their car at some point. As a car owner, you must decide when the best time to sell your car is. Is there a specific time period you should consider? What kind of condition is your car in? There are many factors you need to consider when deciding if it is time to upgrade your car. If you do decide to upgrade, the new and used car dealers here at Irvine Auto Center are ready and waiting to make you a great deal! Before you decide though, here is a closer look at some of the most important factors.
One of the biggest questions you must answer is what months are best for selling your used car. Research suggests that the best time to sell used cars is from March until August. During the spring the value of used cars goes up, but as you approach the holidays they start to decline. This is great for those that are selling their new cars, but if you are upgrading you are doing so during the highest point in the market. Luckily for you, we are in July! Take advantage of being in a great time frame.
We talk about the best time to sell your car, but you also need to know about the worst time to upgrade. During the first nine months of ownership, you do NOT want to sell your car. The first nine months is where your car is going to depreciate the most. Trying to sell during that time may end up hurting you financially in the long run. Low trade-in values could leave you upside down with your next loan.
Mileage on your car plays a big role in determining when the best time to sell is. The lower the miles, the higher the value is going to be. Higher miles bring down resell value and often go hand in hand with costly repairs. Selling your car between 30,000 to 70,000 miles is going to provide you with the best value. Once you hit 100,000 miles value is going to drop even if your car is running extremely well.
The best time to sell and upgrade your car is when it is in good condition. Cars that need major repairs or whose interior is in need of fixing will have a lower resale value. The overall condition goes hand in hand with mileage. The overall condition can be improved with needed repairs, but selling your car before it gets to the point is the best option.
Looking for used or new cars in Irvine, CA? Need to go for a test drive near Aliso Viejo, CA? No matter what you need we have you covered at Irvine Auto Center, so come in for a visit today! Our dealers will help you drive away with your dream car.
Read More on the Blog: Benefits of Buying New vs. Benefits of Buying Used
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