Good things must come to an end, including a car you enjoy. No matter how much preventative care you put into it, your car will eventually kick the bucket. Every year your car survives is another year you don’t have to spend big bucks to buy another one, but you might pass the optimal time to sell your car.
There’s a perfect point in time where your car is slightly used, in good but not great condition and can command a great trade-in or asking price from someone that buys used cars; do you know when that is?
There’s an old rule-of-thumb that says “if car payments for a year are cheaper than maintenance for your car for that year, it’s time to sell,” but the problem with that is that it’s so late in your car’s life, you’re probably trying to get rid of a junk car. Instead, we want to find a solution to sell your used car before it becomes a junker and can still earn you a fair price.
Use Miles as Milestones
It might seem like common sense, but a lot of people forget that miles basically equal your car’s age. At 200,000+ miles, you have a very worn-out car. That doesn’t mean it won’t work, but it’s definitely feeling the mileage in its old age.
There are a few milestones along the way which make for good points to try and sell your used car:
- 30-40,000 miles
- 60-70,000 miles
- 100,000 miles
These milestones equal major service points in your car’s life. At 30,000 miles, most new cars lose their warranty from the manufacture and make for great trade-ins. Still young enough to get a good price but used enough to where you really got your money’s worth from buying them in the first place. 70,000 miles is where you’re probably going to invest in new parts and fluids to keep your engine running smoothly. Selling before this point is going to save you from buying those replacement parts, but the extra miles will require you to discount the asking price. Finally, at 100,000 miles your preventative maintenance starts over as if you were at 0 miles. A lot of the earlier items you replaced or worked on now need to be fixed again, and the cycle continues.
By using these mile markers, you have three distinct points where you can sell your car early and still command a good asking price. With every passing mile, though, your car slowly loses its value until it becomes a junker. Fortunately, if your car gets to this point, people still buy junkers, ASAP Towing included. If you think your car is past its prime but you need to sell it, give us a call so we can talk about buying your junker.
Put your car in our hands and we’ll put cash in yours
If you want to sell your junk car, call ASAP Towing; they can get you some cash.