INDUSTRY NEWS
Get the timing right when selling your car
Seasonal factors can play a part, but a mileage reading of more than 150,000km is a turn-off for prospective buyers
When is the right time to sell your car? There isn’t a perfect age, and it varies from car to car, but industry experts agree that vehicles with more than 150,000km on the clock tend to fetch a lower price. While there is no exact equation determining the right moment in time to sell, there are some factors that should be considered before putting your car on the market, says Nunben Dixon of Gumtree Auto. "Depreciation is often the biggest deciding factor. New cars lose value much faster than pre-owned cars, usually about 15%-30% in the first year, depending on the make and model, and up to 50% across the first three years," he says. "If you are driving a new car, you might want to hold on to it for as long as you can to get the most value out of it." Seasonality can also play a part, he says. Convertibles, classics and sports cars sell poorly in winter, while off-road vehicles experience a slight peak. Hatchbacks are popular all year round, but tend to sell quite well towards the e...
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