Before you sell your car, it’s worth asking yourself a few questions. The key one being: why should I sell my car?
Once you’ve made the decision you should consider these points.
Upgrading to a Newer Model
Most motorists tend to sell or trade in their old vehicle whenever a newer, more attractive model becomes available. A new vehicle might offer features that your old car doesn’t. This might mean an infotainment system, automated driving features, or superior fuel economy. However it may just be that the feel of the drive or performance is more appealing than with your current vehicle.
As technology marches on, newer hi-tech vehicles become more appealing. But your spending power might also be increasing, as you progress through your career and gives you a greater choice. These things might motivate you to sell or trade in your existing car, to help finance a newer one.
Financial Constraints
You might find that you’re under financial strain at present, and that you need an immediate injection of cash to help ease your money problems.
In this case, selling a car might be an option. Your car is a valuable asset that might fetch thousands of pounds, after all. If the alternative is expensive high-interest debt, and you aren’t relying on your car to get to work, then selling could be a sensible short term solution. Alternatively, you may decide to downgrade to a cheaper model, or to opt out of owning a car entirely until you get back on your feet.
Lifestyle Changes
A change in lifestyle might also be a reason to sell. You might have relocated to a big city, where public transport is a better and more cost effective transport option.
Alternatively, you might be expecting children, and in need of a larger vehicle to carry them around.
Your circumstances might demand a new vehicle, or you may decide to give up owning a car for a while at least.
Instead of running two cars you might even decide to share a single car with your spouse or partner as a cost saving initiative.
Environmental Concerns
If you’re putting in a lot of miles, then you might decide to make the switch to an electric vehicle – or, something that’s more environmentally friendly.
It might even be better for the planet if you buy used, instead of new!
