When to Update Your Used Car Ad (2024)

FAQs

When to Update Your Used Car Ad? ›

Generally, buyers are more likely to make inquiries and schedule weekend test drives. After several weekends without any calls, changes are in order.

If your car is paid off or close to being paid off, you'd probably be much better off financially by selling the car and putting the funds into an interest-bearing savings account of some kind.

60,000 to 100,000 Miles

If you want to squeeze the most value out of your vehicle, this mileage bracket is probably the best time to sell. While your car may need a couple of expensive repairs to run properly, it shouldn't entirely give up on you if it has been well-maintained.

The best time to sell a car is usually when you can get the most money for it. In general, that means selling when the car has fewer miles on it and is only a few model-years old. If you have a car loan, you'll generally want to sell your car only if you can fully pay off the loan.

First milestone: 30,000 to 40,000 miles

Because vehicles depreciate at a slower rate in the first three years of ownership, this is the best time to trade in your vehicle.

A car lacking equity has no value or even negative value in a replacement car transaction. The average length for keeping a new car is about 8 years. When valuing a used car, 12,000 annual miles is considered average.

There's no rule to how many miles on a used car is too much, but by attempting to stick to the 12,000 miles per year rule is a great place to start. Find out how old the car is, multiple the number of years by 12,000, and if the number on the odometer is significantly higher than that, some concern might be warranted.

Standard cars in this day and age are expected to keep running up to 200,000 miles, while cars with electric engines are expected to last for up to 300,000 miles. Keeping a car that long has a lot of benefits, including the fact that it could save you a great deal of money.

What month is best to sell a car? ›

The first half of the year is typically the ideal time to sell or trade in a car, according to figures from Edmunds.com Inc., an online supplier of automotive information. Used cars usually hold onto their value better during those first two quarters than they do over the last two.

If you want the best price for your car, consider placing an ad on a private seller marketplace or to potential buyers in your local area. However, dealers and online car buying services may be your best choice if you want an easy process with a quick turnaround.

Waiting until your car has positive equity: Trading in your car after 1 year makes more sense than doing a trade-in after the first few months or even half a year. As a general rule, you should trade your car in after a minimum of 2 years for a better chance at positive equity.

Photograph all the details a buyer will want to see inside the vehicle. Make sure to photograph the seats, dashboard, and any optional equipment (such as a stereo), floor carpets, backseat, or other interior angles. Also include any items that help identify optional equipment, such as trim level and condition.

Gifting a car is a better option than selling it for $1 in California, since vehicles given as gifts aren't subject to taxes. So you want to give someone a car as a gift.

Waiting until your car has positive equity: Trading in your car after 1 year makes more sense than doing a trade-in after the first few months or even half a year. As a general rule, you should trade your car in after a minimum of 2 years for a better chance at positive equity.

Often, it's best to pay down or pay off your auto loan before selling it or trading it in. The main concern is whether you have positive or negative equity on your loan. With negative equity, you should pay off your auto loan before you trade in your car.