When is the Best Time to Sell My Car? | Opelousas LA

Best Times to Sell Your Car in Opelousas, LA

If you’re thinking about selling your vehicle, you may be wondering if now is the right time. Is it true that there are better times than others to sell a car? We’re here to help. Here at Giles Nissan Opelousas, we’ve had many customers sell or trade in their car at our dealership, often upgrading to a new or used vehicle from our inventory. Below, we’ve compiled a list of the best indicators that it’s time to sell your car. Take a look and see if they apply to you — you might be happy to learn that it’s the perfect time to sell your vehicle! After all, used cars are selling for incredible prices right now — and when you sell or trade in your vehicle at Giles Nissan Opelousas, we’ll give you a KBB® Instant Cash Offer you’ll be thrilled to accept.

When is the Best Time to Sell My Car?

1. Before You Need to

Don’t wait until you are desperate to sell your model — you could feel forced to accept an offer for less than your vehicle is worth. Rushing might also cause you to make mistakes in the paperwork, which could cost you more in the long run. Plan ahead and sell your vehicle before you need to, and you’ll be able to think clearly, find a great buyer and get paid what you deserve. Plus, you don’t want to wait until your car hits a depreciation level that causes it to be no longer valuable.

2. Before a New Model Year Starts

When a new model year begins, all models from the previous year drop in value. For example, when new 2023 Nissan models are released, models from 2022 and previous years decrease in value (to varying degrees). To get the best price for your used car, sell it before the next model year begins, no matter your mileage.

3. Before Significant Mileages Hit

Check your mileage — if you haven’t hit 100,000, 150,000 or 200,000, your vehicle may be worth more. Once you pass these significant mileages, your vehicle will be worth less because its lifespan is limited. To be fair, there’s not much difference between 99,055 miles and 100,000 miles, but once the odometer shows those six digits, buyers will see your vehicle as less desirable. An expired warranty is another reason a buyer might pass on your vehicle.

4. Before Your Next Major Service Interval

It may seem counterintuitive, but you shouldn’t try to fix major issues before you sell your car. Definitely get the oil changed and wipers replaced if necessary, but if you need extensive repairs that will cost an arm and a leg, it’s better to be honest with potential buyers about the car’s condition and sell it as is. You are not likely to recoup the money you paid for an engine or transmission in the sale of your vehicle, so just sell it before its next major service interval.

5. When Repairs Costs are Killing Your Budget

Older models tend to break down more often, and if your car is spending more time in the shop than on the road, it might be time to sell it. Take a look at how much you spend on repairs in a month. If it’s basically as much as a monthly payment, you might as well trade in your old car for something new that doesn’t require as much maintenance. Plus, if breakdowns are causing you to be late for work or school, you might be losing even more money than you realize. Stop putting bandages on a financial bleed that’s never-ending and upgrade to something better.

6. When You're Not Upside Down

If you’re considering selling your car, it’s extremely important to do so before you’re upside down on your lease (in other words, you owe more on your car than it’s worth). If you’re upside down, even when you sell the car, you’ll still have to pay the remaining balance to your lender, which could make the transaction a net loss. However, since used car prices are rising, your car’s value may be increasing. It’s worth finding out your car’s value and comparing that to what you still owe. This can help you decide if it’s the right time to sell.

7. When You're in Danger of Defaulting on Your Car Loan

If you’re close to defaulting on your loan, we recommend getting out of the situation as quickly as possible. Your credit score is in danger, and if you have to choose between selling your car or defaulting on your loan, it’s time to sell. If you default, your next loan will be incredibly pricey (if you’re able to get one). You might not be able to get another loan for up to ten years if you default, so it’s important to sell quickly.

If you have any questions about your model specifically, contact us online or give us a call! Giles Nissan Opelousas is located at 4383 I-49 South Service Road, Opelousas, LA 70570. We are proud to serve the automotive needs of our neighbors from Carencro, Eunice, Port Barre and Central Louisiana. We can't wait to help you drive away with an exceptional cash offer!

*For more information, please visit this article from the U.S. News and World Report.