Best Time to Sell Your Car in Shawnee, OK
Best Time to Sell Your Car in Shawnee, OK
It might be a good time to sell your car, but it also may not be a good time. How can you know? Is there such a thing as a “bad time” to sell? At Joe Cooper Chevrolet Cadillac, we can help with those questions. We’ve helped hundreds of customers from all over Oklahoma get a price for their vehicle that they can be happy about, and we’re determined to do the same for you. That’s why our team has collected a few factors that will indicate it’s time to sell your model -- you may be shocked at how many of these indicators apply to you. After all, the values of used cars have never been higher. Consider these factors when deciding the best time to sell your car!
When is the Best Time to Sell My Car?
1. Before You Need to
Don’t put it off. If you wait until you absolutely have to sell your model, you may be rushed when filling out the paperwork, which will increase your chances of a costly mistake or worse — you could be forced to compromise in negotiation. We recommend selling your car, truck or SUV before you need to, especially since depreciation won’t be kind to your finances.
2. Before a New Model Year Starts
Did you know that when the latest addition in the new model year drops, the previous model years’ value also declines? For example, when a new 2022 Chevrolet or Cadillac is released, the 2021 model decreases in value to varying degrees. If you want to get the most out of your current model, consider selling it before the new model year’s lineup is released.
3. Before Significant Mileages Hit
What does significant mileage mean? We’re talking about the 100,000, 150,000 and 200,000 mileage markers on your vehicle’s odometer. It’s obvious that there isn’t much of a difference between a car that reads 149,859 miles and 151,254 miles, but when your vehicle crosses a major mileage marker, buyers will consider your model worth less money. Expired warranties, too, are more common with higher mileages, giving buyers another reason to hesitate.
4. Before Your Next Major Service Interval
Scratch off that overdue oil change or tire rotation — we’re talking about the more extensive maintenance and subsequent costs. You’ll rarely get what you paid for in service repairs when you’re selling your model, so while it’s important to keep your vehicle’s services up to date, we recommend selling your model before that next major service interval hits.
5. When Repairs Costs are Killing Your Budget
It’s probably time to sell your model when repair costs are becoming too frequent in your monthly budget. Most older models require additional service, but a newer car will still be within the best years of its life. If your current repair costs are so high that they can be considered another monthly payment, trade your older model for one that has a higher value.
6. When You're Not Upside Down
Being upside down, or owing more than what your car is worth, can be frustrating. Even if you decide to sell your model, the lender will still require that you pay back the difference. But good news — with the price of used cars rising, the value of your car could be increasing. Calculate how much your model is worth to determine if what you owe outpaces its worth before you decide to sell your vehicle.
7. When You're in Danger of Defaulting on Your Car Loan
Whatever you do, don’t default on your auto loan. Your credit score is at risk, and if you default on your loan, your next one will be extremely expensive. Plus, it’ll be nearly impossible to get that next car loan for close to a decade. If you have to choose between defaulting or selling, sell your model.
If you have any questions about your model specifically, contact us online or give us a call! Joe Cooper Chevrolet Cadillac is located at 4920 N Auto Mall Drive, Shawnee, OK 74804, serving the automotive needs of our neighbors from Oklahoma City, Norman and Moore. We can't wait to help you drive away with an exceptional cash offer!
*For more information, please visit this article from the U.S. News and World Report.