People adore their cars for many reasons. A car saves you from enduring the discomfort of public transport, and it portrays your lifestyle. For most people, it is an asset with sentimental value, and you will find them giving their vehicle names and making them part of the family. The sad part is that a car is a depreciating asset, and within a couple of years, it will have overstayed its welcome. What could be the reason to let go of your vehicle? When is the best time to sell your old car? Where can you dispose of your car before getting a new one? Here are some options:
When to sell your car and buy a new one
Driving for many miles takes a toll on your vehicle. Therefore, as much as you want to keep it, the cost of maintenance and repairs will increase annually. However, how do you know it is time to give up your car?
- Multiple breakdowns and repairs
Nothing is more disappointing than your vehicle breaking down when you are running late for work, or when you are on a road trip in the middle of nowhere. If you start having car troubles frequently, it is time to consider selling the car. While you can buy spare parts or have a mechanic on speed dial, the repair costs will soon exceed the value of the vehicle. Besides, driving a car that could malfunction on a busy highway is risky.
2. Feeling unsafe
Your car should guarantee your safety and that of the passengers. Therefore, if the vehicle feels like a death trap or you are never sure of reaching your destination, it is time to retire the car. As the problems with your car increase, your safety is threatened. Therefore, if the safety features are outdated or malfunctioning, driving the vehicle endangers your life.
3. Upgrading to the next model
Cars portray our lifestyle and personality. When you are young, you want something flashy and trendy. However, as you grow and have a family, you want something that fits your needs. Therefore, you can give up your old vehicle for a new model when your lifestyle changes. Even people who are faithful to their cars for over ten years get to a point where they want something new.
4. Increasing expenses
Repair costs are not the only thing you should worry about with an old car. As the vehicle ages, it consumes more fuel due to the wear and tear of the engine. Therefore, if you have to hit the gas station frequently, the cost of fuel will skyrocket every year. It would be wise to sell your car and get a new one. That way, you will save money with the latest fuel-efficient models. Besides, old vehicles tend to attract high insurance premiums due to frequent maintenance and high-risk of an accident.
5. When finding spare parts is hard
If you have held on to your vehicle for over twenty years, chances are it is becoming obsolete. Many car manufacturers phase out spare parts for older models as they come up with new technologies. Therefore, it will be difficult to get parts for repair. Also, if you manage to land the spare parts, they will cost you a fortune. In worst cases, the company that manufactured your vehicle is out of business, and you cannot find spare parts anywhere.
6. The mileage is over 100,000
If the odometer reading is at 100,000 miles or more, the vehicle has outlived its useful life. Everything will start crumbling, starting with the engine. If you do not want to start shelling out cash for spare parts, it is time to part ways with the vehicle. While some cars could still function well at that mark, their days are numbered.
Where to sell your car
Getting rid of your vehicle is downright stressful. You need to determine its market value and decide on the method of disposal based on the condition of the car. Here are the best ways to sell your vehicle:
- List your car online
Nowadays, you can advertise your car online and get offers. All you have to do is take photos and post the ad on an online advertisement site. If you provide detailed information and a competitive price, you will get multiple offers.
2. Trade in the vehicle
Many car dealers will gladly take your old car in exchange for a new one. Trade-in has numerous benefits since you do not have to go through the hassle of finding a buyer and dealing with enquiries. It is a straightforward process and the quickest way to dispose of the vehicle and drive out of the dealership in a new car.
3. Sell it to a junk car buyer
Some car dealers buy old cars and repair them before reselling them. Therefore, if your vehicle is damaged, you can contact a junk car buyer. They will always have ways to put your old car into use. Besides, you will make quick cash without having to advertise. All you have to do is negotiate the price and organise a pick-up date. It is expensive to haul away an old vehicle. Therefore, selling to a junk car buyer saves you money.
Selling your car at an auction is also a quick way to get rid of it. However, you have to pay the auction fee and a commission. Besides, most old cars are likely to fetch a low price from dealers looking to increase their car inventory. You will get lucky if it sells to a member of the public. Auctioning is the perfect option if your car is still in good shape, and you want to dispose of fast.
5. Car parts dealer
If your old car has outlived its useful life and does not function, your only hope is selling the car parts to a dealer. While it may not fetch a lucrative price, it is better than letting it collect dust in your garage. Besides, most part dealers will organise a pick-up, which saves you the trouble of transporting.
6. Sell it privately
You can advertise your old vehicle in the local newspaper or put an on-sale sign on the car. Selling your car privately is stressful despite the better price. You have to prepare your vehicle, pay for adverts, and deal with buyers.
While it is essential to make the most of your vehicle, you should call it quits if it is no longer fulfilling your needs. With multiple ways to get rid of your car, the process should be straightforward.
Decide on how you’d like to get rid of your car today and earn some quick extra cash!
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