Best time to sell your car?

Pufferfish94

Senior Member
Joined
Sep 6, 2016
Messages
581
Hey guys,

Thought I would get some opinions on this, what is the best time to sell your car and get a new one?

Some people drive their cars until they are forced to sell, but at that point you get next to nothing for it and have put in a bunch more money on repairs, not to mention the inconvenience and time lost to resolving issues when they crop up.

Others get a new car every 2 years, losing a bunch to depreciation but always driving a new car, under warranty with next to no issues.

I am looking for the perfect middle ground to these 2, I want to keep my car long enough that I am not constantly losing money to depreciation but hate having a car outside of warranty when things go wrong.

What is the correct year / millage to sell?
 

WAslayer

Executive Member
Joined
May 13, 2011
Messages
8,319
There is no straight forward answer.. people and their needs and circumstances all differ..

You don't like driving a car that's out of warranty, so in your case, sell just as or right before warranty runs out..
 

The_Traveller

Expert Member
Joined
Aug 9, 2008
Messages
3,393
You cant have it both ways.

A car will always lose value and if you want one that doesn't trouble and will be easy maintenance, then buy that type of car ( Toyota, Honda, KIA etc. ).

Its also very important to send your car to a competent workshop ( even franchise ones). You can have a warranty in place but if your workshop are muppets, your car will always have problems.
 

Pufferfish94

Senior Member
Joined
Sep 6, 2016
Messages
581
There is no straight forward answer.. people and their needs and circumstances all differ..

You don't like driving a car that's out of warranty, so in your case, sell just as or right before warranty runs out..
I agree with this but I could always get an extended warranty, but then I might own the car until selling it would be a worse option than running it to the ground, so my question still remains about what that tipping point is.
 

saturnz

Honorary Master
Joined
May 3, 2005
Messages
18,467
depends on the car, some cars depreciate and then start appreciating
 

Pufferfish94

Senior Member
Joined
Sep 6, 2016
Messages
581
depends on the car, some cars depreciate and then start appreciating
So for my case (2016 Ford Fiesta 1.4 Ambiente) that will no be the case hahaha.

Also warranty runs out September 2020, currently on 45 000 km on the clock.
 

Tman*

Expert Member
Joined
Jul 18, 2012
Messages
4,787
depends on what car you have

Some cars are reliable for 200 000km plus with minimal issues. Do proper research prior to buying a car to see if there are known big ticket items at higher mileage.
 

handyman007

Expert Member
Joined
Mar 1, 2017
Messages
1,056
A friend of mine sells his cars when the annual maintenance is more than the annual down payment of a new car. Might not get a lot of money when he sells tho.

Read somewhere that most cars won't depreciate to a value of less than 50% of it's value when it's 5 years old.
 

saturnz

Honorary Master
Joined
May 3, 2005
Messages
18,467
So for my case (2016 Ford Fiesta 1.4 Ambiente) that will no be the case hahaha.

Also warranty runs out September 2020, currently on 45 000 km on the clock.

probably best to get rid of it now, if you want to make on the side cash I would consider researching flipping second hand cars, where you buy a car, drive it and try to sell it as you look for a new one

90s toyotas are a nice start
 

Pienats

Well-Known Member
Joined
Jun 5, 2012
Messages
338
I used to be in the boat of trading in every 2.5 - 3 years (roughly halfway through the finance period seems to be when you can trade in for more or less the same value as you still owe on the car).
My last vehicle however, I've had for almost 7 years now. The money I save on down-payment goes into my bond. My wife did the same. When her dad needed a car, we gave him her car and with the money we've saved up in the bond at that stage, put down a massive deposit on another car for her. This way our monthly payment on her car is a lot less, and the finance period is a lot shorter.

If you're concerned about getting out less for an older car, you're not saving up enough on the monthly money you're spending. I reckon if you take into account the amount of money you save on interest alone for keeping your existing vehicle for longer, it will probably be more than the money you lose on selling your car for less later on.
Remember, a new car will cost more and hence your monthly payments on it will be more. Especially at the start of a finance term, that's mostly interest.

If you drive reasonably and service your car when it needs to be serviced (as mentioned before with a reputable workshop), and immediately sorting out issues as they pop up, it will remain reliable for a long time.
 

Jola

Honorary Master
Joined
Sep 22, 2005
Messages
20,058
I sold my 1996 Landrover D1 V8 recently, after 20 years, and still regret that, it was still running fine. But the price was very low because of the age. Mainly sold it because of fuel consumption.

I still have my 2002 BMW 330D, still running fine, but also not worth much, will probably keep that going until it falls apart, but it just keeps on going, and is still economical.

I have a newer vehicle, that I fortunately took an extended warranty on, that recently had R50k repairs, that was fortunately covered by the warranty.

You just never know.

Replacing new cars every two/three years is also an expensive business.

I still feel that if the car is going well, keep it as long as possible. The Landrover D1, as above, gave me excellent service for a very long time. It cost me R170k and I sold it for R46k, so the depreciation per annum was quite low.
 

nazmo

Expert Member
Joined
Jul 3, 2018
Messages
2,041
Hey guys,

Thought I would get some opinions on this, what is the best time to sell your car and get a new one?

Some people drive their cars until they are forced to sell, but at that point you get next to nothing for it and have put in a bunch more money on repairs, not to mention the inconvenience and time lost to resolving issues when they crop up.

Others get a new car every 2 years, losing a bunch to depreciation but always driving a new car, under warranty with next to no issues.

I am looking for the perfect middle ground to these 2, I want to keep my car long enough that I am not constantly losing money to depreciation but hate having a car outside of warranty when things go wrong.

What is the correct year / millage to sell?

Our household approach is a blend I think.

The Mrs typically drives VW, tiguan at the moment. We buy with a big deposit, she is an attorney at a bank so prime minus 2 ftw. Take the car for 5 yrs motorplan, then just before it expires, extend by 2 yrs. So for her ownership of a german car, 7 years at a time... AS for me. i tend to buy with my heart, some cars i kept for 6 years. some i let go after 3 because i was dying of boredom. I try to keep resale in mind, but lately i dont care, I prefer enjoying my car every damn day.

It really does vary person to person.
 

Pienats

Well-Known Member
Joined
Jun 5, 2012
Messages
338
Our household approach is a blend I think.

The Mrs typically drives VW, tiguan at the moment. We buy with a big deposit, she is an attorney at a bank so prime minus 2 ftw. Take the car for 5 yrs motorplan, then just before it expires, extend by 2 yrs. So for her ownership of a german car, 7 years at a time... AS for me. i tend to buy with my heart, some cars i kept for 6 years. some i let go after 3 because i was dying of boredom. I try to keep resale in mind, but lately i dont care, I prefer enjoying my car every damn day.

It really does vary person to person.

To link to that, a quote I heard recently that I liked came to mind:
"If you don't enjoy driving your car every day, you have the wrong car" ;)
 

nazmo

Expert Member
Joined
Jul 3, 2018
Messages
2,041
To link to that, a quote I heard recently that I liked came to mind:
"If you don't enjoy driving your car every day, you have the wrong car" ;)

At that time i dated a girl who lived far away, thought ill get a reliable Japanese run around with a modest engine thats good on fuel... least fun car I ever owned. Luckily it had fantastic resale value so i could switch to something else without much loss
 

CamiKaze

Honorary Master
Joined
May 19, 2010
Messages
14,749
My car is paid off. Toyota Auris 1.6RT 2008 model.
I am on 160 000km atm.
The car is perfect.

I do however see that I will be servicing it more often now that I do a 97km round trip every day now.

Would a Diesel powered car save me more in this regard?
 

Enzo Matrix

Honorary Master
Joined
Dec 15, 2006
Messages
12,253
Hey guys,

Thought I would get some opinions on this, what is the best time to sell your car and get a new one?

Some people drive their cars until they are forced to sell, but at that point you get next to nothing for it and have put in a bunch more money on repairs, not to mention the inconvenience and time lost to resolving issues when they crop up.

Others get a new car every 2 years, losing a bunch to depreciation but always driving a new car, under warranty with next to no issues.

I am looking for the perfect middle ground to these 2, I want to keep my car long enough that I am not constantly losing money to depreciation but hate having a car outside of warranty when things go wrong.

What is the correct year / millage to sell?
It's a very good question, been thinking the same thing.

I have a 2015 Focus, with 60 000 on the clock now, and still 50k or so to go. Its getting to a point where keeping it and saving becomes a nice idea, but then having to be ready for a break down. OR just trade it in and keep having the expense.
 
Top