When is the best time to sell a car in the UK?
Knowing the right time to sell your car could make a big difference in how much you get for it. Currently, the demand for second hand cars is at one of the highest it’s been in years, due to the pandemic causing a complete halt to the whole of the automotive industry. This impacted dealerships being able to buy pre-owned cars from customers, and as a result the supply they had available to sell to customers. With demand increasing again, dealerships are hunting for fresh stock to sell, so asking prices are rising.
There are other factors that impact when the best time to sell your car is though, so if you wait, you could potentially end up making more money. Here are just a few of them:
Number Plate Changes
Every year, car manufacturers release two brand new models to their line up, and this is usually around March and September every year.
Because a fair few motorists will be looking to sell their used car to upgrade, dealerships will have a huge supply, meaning you won’t get as good of a price for your used car.
Depreciation
The first three years of a car's life is when it’ll lose the majority of its value. Try to keep hold of it during this time, and keep it well maintained, so you minimise the loss of value when you do come to sell it.
Seasonality
Certain makes and models of cars are more popular during certain seasons. For instance, convertibles will fetch more money in summer, as these are in higher demand. Whereas, in autumn and winter time, SUV’s and 4x4’s are much more sought after.
It’s also worth bearing in mind the seasonality of the school holidays and any major sporting events. This is because people’s intent won’t be to buy a new car during these times, and because of the lower demand, you can expect to be given a lower price for your car.
The type of car you have
Premium brands, or more popular models of car, are more likely to experience higher demand no matter the time of year, and the prices for them remain largely the same.
Electric cars are in demand right now, with everyone having to switch before petrol and diesel cars are phased out in 2030, so now could be a good time to sell your hybrid, or fully electric vehicle if you don't enjoy driving it anymore, are going through lifestyle or family changes or anything else.
Ultimately, the best time to sell your car depends on you and your individual circumstances.
If you’re looking to sell your car in Essex quickly and conveniently, we provide free valuations and aim to purchase your car within 30 minutes. We’re happy to consider any make and model regardless of age or mileage, as long as it isn’t categorised. Whether you have a convertible, 4x4, 7 seater or hatchback, we’ll give you a quote.
Get a quote with Complete Car Buyers today to find out how much your car could be worth.