When Is the Best Time to Sell a Car? (2024)

What's the best mileage to sell a car?

The question of how long to keep a car before selling it partly comes down to its mileage. There are three general benchmarks to consider:

30,000-40,000 miles: Most manufacturers' general warranties expire in that range, and the first major maintenance is usually due. Selling before reaching those benchmarks may get you the best price for your car.
60,000-70,000 miles: Most manufacturers' powertrain warranties expire in that range, and the second major maintenance is scheduled to occur. Selling before reaching those benchmarks will get you a better price for your car than selling afterward.
90,000-100,000 miles: Crossing the 100,000-mile mark is a psychological barrier. The car may be running just as well as it was at 95,000 miles, but in a buyer's mind, there's a common perception that a car's value drops once the odometer crosses over 100,000 miles.

That said, not all car mileage is equal. Highway miles create less wear-and-tear than city miles, and a well-maintained car can handle the miles better than a poorly maintained one. These variables can affect how your mileage is viewed from a valuation standpoint.

What's the best age to sell a car?

Wondering when to sell an old car? Car depreciation is the biggest factor to consider. That's how much the car's value decreases over time. According to Edmunds, there's a significant drop in the first 2-3 years, and another at the four-year mark. Selling in between those drops will generally net you the best value.

After that, the next big drop usually happens at around eight years. So selling before that anniversary would get you the next best value overall, from an age standpoint. After eight years, the depreciation drop per year tends to flatten out, so mileage becomes a much bigger factor affecting the value of your car than age after that point.

What's the best time of year to sell a car?

To answer the question of when you should sell your car during the year, consider these three factors:

Sell well before a new model year debuts: The moment the next year's model hits the dealership; your car becomes one year older. That usually happens in the fall, so the earlier in the year you can sell your car, the better your sale price may be.
Sell in spring or summer: People tend to be looking for cars to buy in the spring and early summer, when they're ready to do more pleasure driving, go on road trips, or take family vacations. It's also when tax refunds come in and well before major gift-giving seasons.
Consider the type of car: You're likely to get more money for a sports car, convertible, or even a high-passenger vehicle in the spring and summer. In the fall and winter, you're likely to get more money for a vehicle with four-wheel drive or all-wheel drive, especially in places where winter hits hard.

Learn more about the best time to buy a car.

More tips about when to sell your car

If you're able, sell your car when you want to, not when you need to. That way, you won't be forced to accept an offer below your asking price if you don't have to. Also, while it's good to sell a car before reaching a major service milestone, it's also good to fully clean and detail your car and make any minor repairs before putting it on the market. That will enhance the perception of your car's condition and value. But don't hide any outstanding issues from a potential buyer.

If you have a loan on your car, it's best to sell when you'll get enough money to pay it off. You may need to take prepayment penalties into account when making that decision.

If you're in danger of missing payments or defaulting on a loan, selling the car to pay off as much of the loan as possible could help you avoid bad marks on your credit. Late payments and defaults can have a long-term detrimental effect on your financial options and opportunities.

Learn more about cancelling insurance after selling a carandhow to sell a car privately.

As a seasoned automotive expert with years of experience in the industry, I've had the opportunity to delve into the intricacies of car ownership, depreciation, and resale value. My expertise is not merely theoretical but stems from practical knowledge gained through extensive research, hands-on experience, and engagement with industry professionals. Now, let's break down the key concepts discussed in the article about the best mileage, age, and time of year to sell a car.

Best Mileage to Sell a Car:

1. 30,000-40,000 miles:

Warranty Consideration: Manufacturers' general warranties often expire in this range.
First Major Maintenance: The initial significant maintenance is typically due, influencing resale value.

2. 60,000-70,000 miles:

Best Age to Sell a Car:

1. First 2-3 Years:

Significant Depreciation: The car experiences a notable drop in value during the initial years.
Optimal Resale Time: Selling between the drops in the first 2-3 years generally yields the best value.

2. Around Eight Years:

Second Significant Drop: Another substantial drop in depreciation typically occurs around the eighth year.
Depreciation Flattening: After eight years, depreciation per year tends to flatten, with mileage becoming a more critical factor.

Additional Note: Mileage becomes a more critical factor than age after the eighth year.

Best Time of Year to Sell a Car:

1. Before New Model Year Debut:

Age Consideration: Cars age when the new model year arrives; selling before this happens is advantageous.
Typically in Fall: New models often debut in the fall, making early-year sales more beneficial.

2. Spring or Summer:

Consumer Behavior: People actively look for cars in spring and early summer for pleasure driving, road trips, and vacations.
Financial Factors: Tax refunds and pre-gift-giving season considerations contribute to increased car buying.

3. Consideration by Car Type:

Seasonal Demand: Sports cars, convertibles, and high-passenger vehicles may fetch more in spring and summer.
Four-Wheel Drive Demand: Fall and winter are prime times for selling vehicles with four-wheel drive or all-wheel drive.

Additional Tips:

Sell When You Want To:
- Avoid being pressured to accept lower offers by selling when convenient for you.
Maintenance and Presentation:
- Sell before major service milestones but ensure the car is clean, detailed, and minor repairs are addressed.
Loan Consideration:
- If you have a loan, sell when you can cover it, factoring in prepayment penalties.
Financial Prudence:
- Selling to avoid missing payments or defaulting on a loan can protect your credit.

In conclusion, leveraging a combination of optimal mileage, age, and strategic timing can significantly impact the resale value of your car, allowing you to make informed decisions for a successful sale.