If you’re leaning toward selling your car, you may want to factor the mileage into the equation. Being one of the main components in determining the overall value of your car, selling in alignment with your car mileage can offer you a great advantage. But why should you consider mileage when selling your car? And what mileage is the best time to sell your car?
Why Consider Mileage When Selling Your Car?
Your car mileage gives a good overview of when it is optimal to sell your car as it ultimately determines the value of your car and what you are likely to get for it. This is because buyers’ opinions of cars for sale is greatly based on the accumulated mileage, with cars carrying low mileage considered to be more appealing than those with high mileage. It is best not to wait too long to sell, as buyers are generally hesitant to purchase an overly used car.
That being said, selling your car too early with a few miles on the clock may cause you to lose a consequential amount of money.
What Mileage Is The Best Time To Sell Your Car?
Knowing the optimal time to sell your car will make it much easier to find a buyer as well as ensure that you get the most out of the car. Generally, new cars see the greatest depreciation in value within the first year. Value usually decreases until the car has reached 36,000 miles and is no longer covered by the manufacturer’s warranties. If you’re looking to obtain the maximum value of the car when you sell it, we don’t recommend selling it at this time.
If you are hoping to sell your car without having to spend money on repairs, we suggest selling before your car reaches 60,000 miles. You may not receive the greatest value for it, but it won’t cost you nearly as much to sell as it would in its first few years.
If you are looking to get the most value out of selling your car, 60,000 to 100,000 miles is the sweet spot. Although it may require some expensive repairs, you will have gotten a lot out of the car if you have kept up with scheduled maintenance and should also get a fair price for it.
Anything above 100,000 miles is ultimately less desirable to buyers, regardless of the car’s condition and capability to run. They are seen as risky investments as they are likely going to require expensive repairs soon along the road. Thus, you may struggle to find a buyer, and you likely won’t get much from the sale if you do.
That brings us to the end of our run-through of what mileage is the best time to sell your car. Hopefully, this has offered some guidance in deciding whether or not to sell. If you would like to learn more about when to sell your car, get in touch with Auto Pedigree.