9 Things to Consider When Selling your Car

With the new year quickly approaching us, you might be thinking about selling or trading in your car. There are important factors to consider to receive the best value for your vehicle so whether you’re upgrading to a newer model or simply looking to sell, making the right decisions can help you maximise your return! At SERE Motors, we’re here to guide you through the process, offering competitive trade-in prices and expert advice... Here’s what you should consider when trading in or selling your car. 

Depreciation

Unfortunately, your cars value begins to drop as soon as you drive it off the lot, and timing your sale or trade-in is key to minimising this loss! Most cars lose between 15% and 30% of their value in the first year, with depreciation continuing steadily after that. Trading in or selling your car before it loses too much value will ensure you get a decent return.  

The prime time for depreciation is generally in the first three years, so if you have a new car, it’s worth considering holding onto it for a while longer, as they depreciate more than a used car. This means it might not be the most profitable decision to sell your car within the first three years of buying it, whereas, when it comes to used cars, the car has usually gone through the prime depreciation period, so you might not lose as much money when you sell it, depending on its condition.

It’s important to consider timing to get the most out of your vehicle, but it does help that we offer fair and competitive pricing, plus free valuations are available 24/7 online!

Year-End Depreciation

Towards the end of the year, before the new year, is a great time to sell or trade-in your car. As your car essentially becomes a year older in the automotive world, selling before the end of the year can help you to avoid the additional depreciation that comes with entering a new calendar year (before your car becomes a year older, on paper). By acting before the end of the year, you could end up with a bit of extra cash in your pocket!  

Our team at SERE Motors can help you assess the current value of your vehicle and guide you through the trade-in process before the year-end depreciation hits.  

Condition of Your Car 

Of course, the condition of your vehicle plays the biggest role in its resale or trade-in value, and if your car is in a good way both inside and out, you’re more likely to get a higher offer! If your car is in need of some TLC (repairs), consider whether the cost of fixing it will add enough value to justify the expense. Minor repairs, such as replacing worn tyres or fixing small dents, could be worth it, but larger repairs may not result in a greater return.  

Once you have used our free, no-obligation valuation tool, our specialist Car Buyer will then provide you with an honest assessment of your vehicles condition and trade-in value. If you are happy to proceed with our valuation, then you will receive the money in your bank that same day!  

Mileage 

Mileage is another crucial factor that can affect the value of your car. Vehicles with fewer miles tend to have a higher trade-in or resale value and cars with 40,000 to 70,000 miles hit a sweet spot, offering good value for both the seller and the buyer. However, once your car reaches six figures on the odometer, its value will probably decrease more significantly.  

New Plate Release in March and September

New registration plates are released in March and September in the UK, and these months are typically focused on new car purchases. Demand for used cars may dip around these months, leading to lower trade-in values, so to maximise your return, it may be best to consider choosing a period outside these months, when the demand for used cars is higher.  

Current Market Demand for Used Cars

Recently there has been an increase in demand for used cars, which means you could get a higher price than you might have expected, but the market for used cars fluctuates throughout the year, and understanding demand trends can assist you in getting a better deal. At SERE Motors, we’re always in the market for quality used cars and offer excellent trade-in prices to meet growing demand, so if you are looking to sell your car, now could be the time! 

Seasonal Trends 

The value of your car could fluctuate with the seasons depending on the type of car you have. For example, SUVs, 4x4s and off-roaders tend to be more popular in the autumn and winter months when people are preparing for tougher driving conditions. Convertibles on the other hand are more in demand during the warmer months in spring and summer (wouldn’t fancy driving with the roof off in the Northern Irish winter). If you are thinking of trading in or selling a specific type of vehicle, it’s worth considering if your car is “in season” to get the price it deserves.  

Outstanding Finance

If you still have finance against your car, you’ll need to settle it before selling privately, but lucky for you, when you sell your car with SERE Motors, we will settle any remaining finance as part of the trade-in or selling process. It’s important for you to know how much is left to pay before you start though, as this will affect how much you will get for your car, and how much you can put towards a new vehicle.  

Lifestyle and Needs

SERE Motors is proud to offer a wide selection of vehicles to suit every lifestyle and all your needs, so if you are changing your car, consider how your needs and lifestyle have changed since you bought your car. Think about what you love about your car, and what you could do with – be it more technology, heated seats, or even better safety features – so our expert team can help you find that perfect car that ticks all your boxes.  

Ready to Trade-in or Sell? Visit SERE Motors Today! 

Trading in or selling your car doesn’t have to be complicated. At SERE Motors, we make the process simple and stress-free, offering free valuations, competitive trade-in prices, and a great range of new and used vehicles to choose from. Whether you’re looking to upgrade to the latest model or switch to a more practical car, we’re here to help you make the right choice. 

Visit our showrooms in Belfast and Lisburn today or contact us for more information.