Various factors play into determining the value of a used car and how car sellers can get the best value for it. Some of the things that influence the used vehicle’s resale value when selling it may include the car’s mileage, age, brand and condition. The vehicle’s value is also impacted by the demand of a specific type of vehicle in the car market. This can be seen from the fact that there is a high demand for large SUVs, hatchbacks and sedan types of vehicles in the UAE car market. However, the COVID-19 pandemic has also affected the demand and prices of the used cars.

On the other hand, motorists should know that most of the cars lose about 20 percent of their value just within their first year. Therefore, selling a car at the right time can help car owners to get the best value for their vehicles and save themselves from the loss. Used cars continue to depreciate over their years of use but there are also many other things to consider that affect the value of a used vehicle.

Let’s discuss some important details on how to get the best resale value for a used car by selling it on the right time.

Keep An Eye on the Vehicle’s Mileage

A vehicle starts depreciating immediately when it is purchased. The depreciation of a car depends on various factors but the most important is the car’s mileage. Typically, the warranties of new vehicles begin to expire after 25,000 miles, and most often these vehicles need some service or major repair by that time.

In addition, vehicles that are driven around 30,000 miles or over need new brakes and tires, while other mechanical issues can also start showing up to affect a vehicle’s life. Many automotive experts recommend that selling a used car after 2 years can be a smart decision as wear-and-tear and mileage are still low. Selling a car at this stage can be beneficial and can get the owners the best value.

Car owners should also take account that vehicles require increased repairs after 4-5 years of their use. At this point, selling a used vehicle can be least effective but still the best option rather than spending more on its maintenance and repairs.

Also read: Protect Yourself with These Tips While You Sell Car in Dubai Online

Why Model Year is Important?

Car owners should understand that model of the car is also important, along with the mileage. It is often perceived that a vehicle has lesser value the older it gets, regardless of any wear-and-tear or advanced mileage. Therefore, even when two vehicles have identical mileage but a difference of one year in car models can lead to a perceived decline in their prices. This is why, selling a vehicle before another year turns around can help car owners to get the best resale value for their used car.

Car owners should also consider their vehicle’s generation as it lasts somewhere around 5-8 years, with some minor updates. When a new generation of a vehicle is set for release soon then car owners should sell their vehicles before the new generation is launched as it will help them get a higher value. 

Car Condition Is Important

The condition of a vehicle is ultimately the biggest factor in getting best value for a used car. Some vehicles with over 70,000 miles can be seen in excellent condition as they are maintained excellently. On the other hand, some vehicles with just 15,000 miles can be so used so badly or kept in poor condition that they are mechanically junk.

In addition, preparing and maintaining a used car before showing it to potential buyers can help in increasing their value. Fixing some minor issues in the interior or exterior of a used vehicle should be considered by car owners before making a final decision.

Also read: Selling Cars for Cash – Who will buy my Damaged Car?

Check Seasonal Discount Offers on New Cars

In the UAE, some seasonal discounts are offered on new cars throughout the year, especially during Ramadan and holiday season. Most of the top auto brands offer huge discount offers on selected vehicles, giving a perfect opportunity to motorists to upgrade their cars to new ones. Such car deals and discounts are offered every year so people can decide in advance as when they need to sell their vehicles. In addition, motorists must also check other seasonal discounts or offers as well so they can get the best deals to upgrade to a new car of their choice.

Sell Your Used Car on a Right Platform to Get the best Value

It is important for car owners to sell their vehicles on the right time to get the best resale value. However, to get a best resale price for their vehicle, it is essential for car sellers to choose the right car buying platform.

A specialist car buying company in the UAE offers a quick, safe and hassle-free car buying process, enabling car owners to sell their old cars at the best resale value. This expert online marketplace purchases vehicles of all kinds, regardless of their condition, age, make or model. In addition to this, the company also offers a guaranteed purchase of every vehicle that has been inspected by its experts.

Also read: Value my Car for Sale – How to know the True Value for your Used Car

Roundup!

Car sellers should consider following the afore-mentioned information to determine the ideal time for selling their old vehicles at the best value. Selling a car on the right time plays an important role in getting most of the resale value of a used car. In addition, car owners should also pay attention to local market demands and trends prior to selling it as there can be specific type of cars that are in high demand.

One other important factor to get best value for a used car is to choose a reliable and authentic car buying platform. Car sellers can get the best resale price for their used cars after a detailed inspection through the specialist car buying company, where any used car can be sold in just 30 minutes. Therefore, this expert online company offers the best platform to car sellers, to sell their vehicles without any hassle or delay.

Planning to sell your old car then BuyMyLuxuryCar.com can be the right place to sell your used car. Get a free valuation of your car for sale to know the best price of it.