Our cars are our prized possessions because they symbolize our investments. Acquiring a car is an achievement for all of us, because it is never easy to get one. You have to be financially prepared not only for paying for it but also for the cost of maintaining its performance. You also need to prepare a lot of documents unless you’re buying the car in cash.Our cars can really bring comfort and convenience but the sad news is, we can’t keep them forever. The car industry is lucrative and new models are constantly being rolled out of the factories day after day. Simply put, our cars get old and outdated. But how do we know when is the proper time to sell our cars?
The guide below will help you in deciding whether it is time to sell your car or not.
When Should I Sell My Car?
It is hard to decide whether letting go of your car is the right thing to do. However, as the car’s value depreciates, the cost of maintaining it also rises. You should sell your car for the following reason:
- If The Cost of Repair is More than the Value of the Car
If you have a car that’s worth $7000, do you think spending $5000 on repairs is okay? Once the car is costing you too much money on repairs, you have to let go of it and sell it. It’s better to get a few grand from it than getting nothing at all once its condition becomes beyond repair.
- If It Has Traveled More Than 100,000 miles
Most car warranties expire in three years or after travelling for 36,000 miles, whichever comes first. You can most probably predict which parts will start to fail by keeping an eye on the car’s mileage. For example, most timing belts fail after the mileage reaches 50,000 to 70,000. The tires and brakes may also need replacement at this stage. So once your car has been driven for 100,000 miles, its value depreciates dramatically and most likely, a lot of the parts will be needing replacements.
- If You Are Considering an Upgrade
Sell your car if you want or need an upgrade. For example, you own a Sedan but you now want a pickup due to the change of the environment you are driving at. You can sell the Sedan and buy a truck that can take you off road. You should also sell your car and buy a new one if there have been new additions to the family in the form of a new child or a new pet and you will no longer be able to fit inside your old one.
- If you have a New car
It’s never good for a car to be left in the garage for a long time. If you have a new car and would not be able to use the old one, it’s better off sold. Why? If the car gets stuck, there’s a high chance that its components will fail. Cars are designed to be driven and not to be left in the garage where it can accumulate rust and damp.
- If It is becoming Unreliable
It’s not worthy keeping a car that is not able to take you where you want to go, right? If the car stops in the middle of the nowhere and you have no one to turn to, do you think of what could happen? You could either get robbed or worse, you have to push your car to the nearest fuel station all by yourself! Having a car that breaks down every week is not a good idea, considering the hassles and stress it can give you.
- If You’re Spending Too Much Money on Fuel
The age of the car impacts its fuel efficiency. So even if your car was fuel efficient back in the day, it will be lagging way behind newer models. Why? Because technology improvements are constantly happening, meaning, newer cars are always being upgraded and their fuel efficiency are being improved. If you are a person that drives on an average of 15,000 km/s a year, it’s probably time for you to look at other options when it comes to your car. After all, you can save a lot of money if your car is fuel efficient.
If you’re now ready to sell your car, contact us! We specialize in cash for cars and ‘sell my car’ services. We are the car buyer you can trust, giving only the highest offer for your old cars, scrap cars, unused 4×4 and trucks. We offer free car removal all throughout Melbourne and its surrounding areas. Sell your car now, call us at 0457 471 397.