You are looking to sell your used car which has, no doubt, served you faithfully over the duration of your ownership. Have you considered the factors that will affect the value of your car?
Mileage is one of the key factors that affects the trade-in value of your used car. You may want to ensure necessary repairs have been made before you trade-in your car so as to ensure you get the most value out of it. At Fast Cash 4 My Car, we explain what is being taken into consideration when you sell your car at different mileage ranges.
30,000 – 40,000 Miles
By this time, your bumper warranty will have expired. Warranties of new cars typically expire at the 36,000-mile mark, whereas some expire after three years, depending on which comes first. Cars typically depreciate slowly during the first three years of road use, so the optimum selling mileage will culminate during this period. However, you may need major repairs during this time to deal with issues such as the wear and tear of brakes, and so on. If your car is repaired prior to trading in, car dealers may give a higher quote since the car won’t require any massive repair work.
60,000 – 70,000 Miles
Once your car’s mileage has reached 60,000 miles, you will likely have needed to replace key parts, such as the brakes or tires, since the wear and tear after this time will be relatively substantial. There may be other repair work involved which is more expensive, such as the timing belt or battery replacement. This mileage range may not be the optimum mileage to sell your car, as the depreciation will be high. Cars with this mileage are usually five years or older.
Over 100,000 Miles
This is the mileage spectrum that has the highest depreciation. The mileage to sell cars in this spectrum is too high, and the vehicle is likely too old and worn out to fetch a good price. You should be selling your car before it hits the 100,000-mile mark. Usually, car dealers will treat these vehicles as wholesale-only, to be auctioned off. However, vehicles that exceed the 80,000-mile mark will be difficult to sell off on the auction block.
Mileage Tips before Selling
There are a few tips to take note of before you consider selling your vehicle. Here are a few:
- Find out how the pricing system works: Some car dealers, like Fast Cash 4 My Car, have a proprietary pricing system that ensures you get a fair pricing. However, you may need to understand why you may receive a less-than-desirable quote, so make sure you adjust your expectations.
- Check your car: It’s natural to desire a high cash-back value, but this is usually not realistic since cars depreciate at different rates depending on the mileage. This gives you a clue as to which mileage to sell your car at.
Sell Your Car at Fast Cash 4 My Car
At Fast Cash 4 My Car, we offer guidance on the best mileage to sell your car. We are also available to answer any potential inquiries that you may have. Contact us to find out more about how you can sell your old car for some cash!