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Selling Your Car Before Its Value Depreciates Further
15/01/2018



The new year is here! It is common to have new year resolutions, wanting more from what you have, and for some, the joy of looking at a new car. As you'd expect, a new car doesn't necessarily have to be new from the factory. Something new could also mean pre-owned. So how do you look to getting something new, and moving on with that car you've had for years? We know it's difficult, but hear us out. There are many factors on why you should sell your car, and here are some tips to get you started.

 

The 5-Year Period

On average a new vehicle depreciates 19 per cent up to 30 per cent for local and continental cars respectively. The resale value of your car would also depend on its popularity, brand value and maintenance cost. Here selling your car within the five-year period is mainly due to the latter most cost mentioned - maintenance. Yet, the five-year period isn't universal for all makes and model, it is more on the fact that your car's warranty period has ended, and that there could be a risk on failing parts due to wear and tear.

 

Credit: VTNZ

Yet, five years shouldn't be the deciding factor that you should immediately start selling. A car with good maintenance records, well-maintained and has a generally good reputation for being reliable could very well be a keeper for the next five years.

 

The ‘Unexplainable Urge of Buying a New Car’

We know this one. You own a car with one of the highest resale value's in town, and was recently bombarded with new car ads from listing sites and your neighbour, who has a shiny new ride. We know the urge is strong, and if you're really able to trade-in your car for something else that'll satisfy your wants, we understand you completely! After all we're in love with cars too!

 

We don't have to say that if your car looks like this, you deserve something new!

If your car has passed the 20-year milestone, we can't fault you either. What can you do? Click here to find out what to do with your ageing and problematic 20-year old car.

 

The “Before-A-New-Model-Is-Released”

Old Swift or new? Credit: Rudolf Stricker

This is rather explanatory. On average, the price of your car depreciates 10 per cent in its current value when a new generation of the model launches, be it a Honda Civic, Toyota Vios, Perodua Myvi or Suzuki Swift (depending on demand and new model factors). 

 

The ‘Problems has started’ factor

No matter how confident you are with your car’s condition, it will come a day when you find it to be less performing, less reliable than usual. Yes, the problems have started to creep in. The occasional jerk that the car has while in gear, electrical or even noises that even the mechanic can't figure out. These are all nifty issues that can frustrate owners. Why can’t a car last, you say? Cause nothing is made perfect. Other contributing factors may be how the owner takes care of the vehicle.

 

When To Change?

This is subjective. By and large, most automotive manufacturers will have discounts and deals going through festive months, year end, and the occasional clearing of current model-year stock.

 

Ultimately, it boils down to one's personal budget, preference and choice. There isn't a certain rule to when and why you should part with your car, but if ever you are looking for the perfect platform to sell your car fast, fair and free, Carsome will always be ready to fulfill your need!

 

Finally the 2018 Kia Picanto is out! This compact, little hatchback is perfect for weaving through the traffic.

Selling your car shouldn't give you an headache! Read our article and stay calm and sell!

 

Hassle free, no need to wait! Sell with Carsome today and buy your dream car!


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