When is the best time to sell your car

The best time to sell your car depends on a number of factors. The car’s depreciation, condition and mileage are some of the most important considerations. But you also need to consider seasonal factors, registration plate changes and, last but not least, your personal circumstances.

In this guide, we’ll take a look at all of those elements and more to help you choose the right time to sell your car with confidence. 

Key takeaways

• January and February are the best months to sell if you want to get the most money due to the market trends

• Try to avoid selling in November and December when prices are lowest

• Aim to sell before mileage milestones such as 60,000 or 100,000 miles

• Used prices tend to drop in March and September due to registration plate changes

• Keep your car well-maintained and consider pre-sale repairs to boost its value

Is now the right time to sell your car?

There are no hard and fast rules for knowing the right time to change your car. But knowing the best time to sell your car can speed up the process and help you get more money for it. 

You might be fed up with your current car, your personal or financial circumstances may have changed, or you may have seen a shiny new model you simply must have. But if your main concern is making the best financial decision, there are a few factors that can make a real difference. 

We’ll look at those factors in more detail next.

Depreciation

Depreciation is the way a car loses value over time, and it’s a key consideration in deciding when to sell your car. The rate at which a car depreciates depends on things like its age, mileage, condition, make and model. Market trends can also make a difference. New cars generally depreciate fastest, losing between 15% and 30% of their list price within their first year on the road. Yikes!

Cars generally depreciate more slowly as they get older. At three years old, the average used car will be worth about 50% of its new price, whereas at six years old, it will be worth about 30%. In technical terms, the depreciation curve flattens over time. 

With that in mind, if you sell a car that’s only a year or two old, you’ll have potentially lost a large chunk of money on it. You might be better off enjoying its ‘newness’ and then selling when its depreciation rate has slowed down. If you’re selling an older car, depreciation may not be as important because it will have already taken a big hit in value. 

The good news is that keeping an eye on your car’s value is easy, thanks to online valuation tools such as Carmoola’s car value tracker.

Mileage

A car’s value decreases as its mileage goes up, but certain milestones can cause its value to drop more suddenly or make it harder to sell. These are generally acknowledged as 20,000 miles, 60,000 miles and 100,000 miles. Selling your car before it reaches one of these could help you get more money for it.

The average UK mileage is about 7,500 per year, so any car that’s less than three years old and has covered less than 20,000 miles is considered ‘low mileage’ and therefore worth more. At 50,000 to 60,000 miles, many cars may need to have expensive parts such as a clutch or timing belt replaced, so trading your car in before it gets to this point may make financial sense. The 100,000-mile mark is the big one, and as cars get close to it their value can drop sharply. Once they’re into six figures, values tend to stabilise. If you’re debating whether now is the right time to trade in, it could be a case of moving your car on well before it gets to 100k, or holding onto it longer to benefit from a lower rate of depreciation. 

Condition

While mileage is a key factor in your car’s value, condition is arguably even more important. A well-maintained car will always be worth more than one that’s been badly looked after, so if you want to get the best price when you sell it, it’s crucial to keep your car in good condition.

While you can’t predict when things might go wrong, some major components have a limited lifespan. Big-ticket items such as the clutch, timing belt and brake discs often wear out around the 60,000-mile mark, so evidence that these are in good condition or have been recently replaced can boost your car’s value. 

Depending on your car’s age and value, it could be worth paying for repairs before you sell it. Minor mechanical issues can be relatively inexpensive to fix, while smaller dings and scratches to the bodywork can be cheap to sort out. A new set of floor mats or wiper blades costs little, but can boost your car’s showroom appeal and therefore its price. And, of course, a full interior and exterior valet is essential if you want to get the most moolah for your motor.

Check your car’s MOT expiry date, too. If it’s due within the next couple of months or so, it’s probably worth paying for a fresh test. A full 12-month MOT provides peace of mind for potential buyers, increasing your car’s desirability and price. 

Seasonal factors

You’ve probably heard people say that the best time to sell a convertible is spring or summer, or that SUVs tend to be worth more in winter. It’s true, and it’s a simple case of higher demand getting you a higher price.

There are natural highs and lows in the used car market that affect what you’ll get for your car, too. It’s probably no surprise to learn that prices dip in November and December as everyone saves their pennies for the Christmas splurge. On the flip side, January and February are good months to sell because lots of people decide to change their car in the new year, pushing prices up as a result.  

Registration plate changes

New car registration plates are released at the start of March and September each year, and this is something to bear in mind when deciding when to sell your car. 

Prices for cars with the current registration plate tend to drop slightly when a new one is released, since it’s no longer the hottest ticket in town. The change also creates more activity in the market, as people trade in their current car for the latest plate. That tends to push prices down overall, so it may be better to sell your car before, rather than after, the change takes place.