Decisions, decisions, decisions – they define adulting and contribute to much anxiety. On top of it all, our cars come with a package deal of decisions that need to be made (Do I get a bigger car? Do I get a cheaper car?). Wouldn’t it be nice if someone could just make the decision for us – like when we were kids? At Weelee, we won’t promise to make the decisions for you, but we can make it a whole lot easier. So, if you’re wondering whether it’s a good time to sell your car, we’ve got a few tips for you to consider.
At the end of the day, it all comes down to simple maths.
The goal: sell your car when you’ll save money or, at least, break even. Make sure that the money you receive will cover the money you owe, whatever your financing scheme. It’s that basic!
Now, here’s our simple checklist:
o As much as you love your car, the reality is it’s losing value with every kilometre you drive. If your job requires a lot of travel time, you may need to sell your car sooner than the guy who works five minutes from home. More mileage equals less value, which equals less money for you.
o Consider the brand of your vehicle. If you have a popular brand, like a VW Polo or one of these cars listed in our previous article, it will retain its value for longer. If it’s not, you may want to sell it before the market value drastically decreases.
o Keep an eye on your car’s status in the market. If it is being discontinued, sell your car as soon as possible! Once the manufacturer stops distributing, the value will plummet. Great for a buyer, not so great for you.
o Be sensible. If the car is a fuel guzzler with expensive running costs, opt for a vehicle that won’t be such a heavy drinker.
o If service costs are becoming too hefty to maintain, sell your car before it destroys your budget.
o It is always a good idea to sell your car before the warranty and service plan expires (your pockets will thank you at the next service!). Plus, if the warranty has long expired, the value will dramatically decrease.
o Upload your car onto Weelee’s website and watch its value soar as pre-approved dealerships place their bids. You’ll get a better price than you could have expected!
Well, you do the maths: if you want to sell your car, make sure you’ll be saving money.