When To Sell Your Car?
by Tom Smith
Almost every car on Earth is losing value. That's just the nature of wear and tear to get from point A to B. Even for us in Southampton, PA, boy, is this true. A car is a necessity of life for all of us in the Lower Bucks-area though, so how can you take advantage of this situation? Know when to sell your car - that’s how!
Does My Car Cost Me More Than It Is Worth?
Probably the most important thing to consider when selling a car is your financial situation. This may seem obvious. The truth is though, it doesn’t matter if you’re headed to Na Brasa in Horsham for top-of-the-line steaks or just to Wendy’s on County Line in Southampton - if your car costs you more than half your annual income you need to rethink it. At that point you’re not helping yourself in the long term. Remember, with a car loan, you’ll have to pay interest on something that is actually depreciating from use.
What Is The Value Of My Car If I Sell It?
Always, always keep the market value of your car in mind. Even if you don’t want to sell it, you may find the perfect opportunity to make more at the moment than you would in the future. In almost a minute or less you could find out the value of your car on Kelley Blue Book’s website. One thing is for sure - if that value for your vehicle is less than you owe on it, you’ll have to take a loss whenever you sell your car. Oh no!
Should I Sell My Car Before Major Maintenance?
Yes and no. A common repair that can be a hassle is a timing belt replacement. A lot of motors are what’s called an interference engine. This means if the timing belt were to break that serious motor damage would likely occur and could leave you stranded on the PA Turnpike! This would also totally ruin the value of your car and prevent any profit from a sell. It doesn’t take long to look at your car’s manual and see what major maintenance, replacements and the like are coming based on mileage. Another neat source of info is online forums where people will ask for help with problems they encounter with their same make and model car. This poor guy had an issue with a possible exhaust leak that really spoiled the purchase of his new Toyota Tacoma. If your Tacoma is coming up to the same mileage might you also have that trouble? A good question to ask as far as your car’s value is considered!
In the end, be smart. There are so many factors involved that make up a car’s value. The Covid-19 pandemic even raised the price of many cars, because less people wanted to use public transportation and needed to buy a vehicle. Who in Southampton rushed to any Street Road dealer realizing their car’s value went straight up as soon as that news hit!? This is why it’s almost always better to sell a car when there’s no maintenance trouble and everything seems to be going smoothly, but - the reality is - cars get used and they depreciate.
Regardless of your car’s make or model, Frank’s Servicenter can help you keep it in tip-top shape. Get the most value when you sell your car by maintaining it with Frank’s in Southampton, PA. Book online now!
Watch this video for more advice on when to sell your car: