The car that has been on your porch for years now has been of great use; it’s undeniable. But did you know every year, the value of your car is depreciating? And an even more shocking fact is that the value of a brand-new car drops by 60% the moment you get it from the showroom. So, even though your vehicle is serving you without impediment, there are chances you are spending more on your car than necessary.
And if you’re considering selling your car and happens to live in the capital city of Queensland, you must know that car buying companies like Cars4Us buy cars in Brisbane. Meanwhile, many car buying companies buy cars actively, which is much easier than selling them to individuals.
So, whether you’re on the verge of selling your car or haven’t thought about it, let’s consider why you should think of selling your used car.
Reasons to Sell Your Used Car
Rising Maintenance Cost
Talking about a two to four-year-old car, the vehicle is prone to rising maintenance costs. Logically, the more you use the vehicle, the more its mileage increases, resulting in increased maintenance costs.
So, if the car is being used frequently, it undergoes wear and tear, which results in the replacement of car parts. And a car that has crossed 75,000 kilometres on its odometer will be expensive in terms of maintenance.
The market is prone to year-on-year changes that are based on numerous other factors. So, if you’re looking to sell your car to individuals or a car buying company, sell it before the last quarter of the year. Selling it during the last quarter would not fetch you a justifiable price as most buyers would not pay enough, citing year-end as the reason. Also, note that companies like Cars4Us buy cars in Brisbane.
Sell Your Car Before the Warranty Ends
One of the best parts about having a brand new car is that car manufacturing companies offer a great warranty. However, just like time never stops for anyone and everything comes to an end, the warranty also ends.
So, if you’re wise enough, you will sell it before the warranty period ends. End of warranty implies that all the maintenance costs have to be paid by you.
Promotion at Work
If you’ve got a promotion at work, which means your paycheque increased, why not buy a car that matches your income levels? And, as the interest rates are lowering, it is easy to get a car loan and pay minimal EMIs every month.
The automobile industry is working persistently on increasing the fuel efficiency of cars. And, if you drive to work daily and have an average of 2,000 kilometres a month, it’s wiser to switch to a diesel car. Petrol is more expensive than diesel, and by selling your existing petrol car, you will save massively on your fuel expenses.
There are many car buying companies that are coming up in recent times. And the best part about them is that they don’t waste your time and effort. On the other, when you trade your used car, a buyer might visit you to inspect the vehicle and turn down the deal at the last moment.
Author: Alison Lurie