Everyone's least favorite car fact? When you purchase a new car, the value drops the moment you drive it off the lot. According to Edmunds, most cars drop in value nearly 20% in the first year...but when is the best time to sell your car to recoup the money you put into it?
To avoid any major financial loss on purchasing a new vehicle, you'll want to know when the optimal time to sell. Let's break it down.
When Is the Best Time to Sell a New Car?
When it comes to selling a car, the best time to sell will vary from driver to driver. Many factors can impact the value of your vehicle-like mileage, age, and wear. As your car ages, you'll need to weigh the pros and cons of maintenance versus shopping for a trade-in.
Typically, drivers will make a decision after owning their new car for 30,000 to 40,000 miles. This is when most warranties start to expire and when your first major service usually come due.
After the 40,000 mile mark, it's common to need more than just an oil change and tire rotation. Brakes and tires may need to be upgraded, and this can cost quite a bit out of pocket.
You'll also want to consider the time of year. Most car shopping happens between the months of March and August-so car dealerships are looking to cut you a better deal if you trade-in during these times.
If you're choosing to sell your car yourself, you may also want to note that this time of year is far enough away from the holidays that people have more disposable income and can make larger purchases (like a new car!).
When Is the Best Time to Sell a Subaru?
Another thing to consider when selling your car: it's make and model. Some cars hold value much longer than others; Subaru has always been happy to claim fame to this title. If you own a Subaru truck or SUV, consider yourself even luckier. These models tend to hold value even longer than sedans and compact cars, which generally tend to take the biggest depreciation hit.
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Need maintenance or repair on your Subaru near Seattle? We love Subaru customers-it's why we've chosen to specialize in Subaru-only car repair, maintenance, and more.
We've treated Seattle's Subaru customers to excellent service for so many years-and we can't wait to treat you too. Whether you need to make a regular maintenance appointments, schedule a repair service, or want to discuss installing a snow solution, contact us. Show your Subaru some love.