Identifying the Best Time to Sell Your Car
Determining the best time to sell your car can significantly impact the sale price you achieve. According to a recent study, while the beginning of the year is generally optimal for most car owners, those with SUVs might find late-year sales more lucrative due to seasonal demand peaks. This insight challenges the common assumption that warmer months are always the prime selling season for vehicles.
Market Trends and Timing Insights for Car Sales
The analysis, conducted by Carwow, leveraged a vast array of internal sales data to pinpoint when various types of vehicles—such as hatchbacks, saloons, and convertibles—are most frequently sold above market value. The findings suggest that the initial five months are particularly favorable, with a notable increase in sales volume and prices typically exceeding market expectations. This period is thought to be popular due to dealers stocking up in anticipation of the summer buying rush.
Specific Recommendations for Vehicle Types
While the data generally favors early-year sales for maximizing returns, SUV owners are advised to wait until November to sell, as this is when offers peak. Additionally, despite popular beliefs, convertibles also fetch higher prices in the early spring rather than summer, with April seeing peak valuation offers for these vehicles. Understanding these patterns can help sellers strategically plan their sale to maximize profit while minimizing time on the market.
Taking just 11 days to sell on average, the Peugeot 208 is the hottest used car on the market right now
| Rank | Make | Model | Body Type | Fuel Type | Age Cohort (years) | Avg. days to sell |
|---|---|---|---|---|---|---|
| 1 | Peugeot | 208 | Hatchback | Petrol | up to 1 Year | 11 |
| 2 | Toyota | Prius | Hatchback | Petrol Hybrid | 3 to 5 Years | 12.5 |
| =3 | Seat | Leon | Hatchback | Petrol Plug-in Hybrid | 3 to 5 Years | 13 |
| =3 | Volvo | XC40 | SUV | Petrol | 1 to 3 Years | 13 |
| =3 | Jaguar | I-Pace | SUV | Electric | 5 to 10 Years | 13 |
| =6 | Seat | Leon | Hatchback | Petrol Plug-in Hybrid | 1 to 3 Years | 13.5 |
| =6 | Citroen | C4 | Hatchback | Petrol | 3 to 5 Years | 13.5 |
| =8 | Mercedes-Benz | GLB Class | SUV | Petrol | 1 to 3 Years | 14 |
| =8 | Mercedes-Benz | GLA Class | SUV | Diesel | 3 to 5 Years | 14 |
| =8 | Ford | Kuga | SUV | Petrol | up to 1 Year | 14 |
| Source: AutoTrader | ||||||
Toyota’s hybrid Prius takes less than a fortnight to sell after first being advertised
The Seat Leon plug-in hybrid is another car that takes less than two weeks to find a new owner
Both the Volvo XC40 (left) and electric Jaguar I-Pace (right) take an average of 13 days to sell after being listed as available
Among the other fast-selling used cars is the Citroen C4. Auto Trader says the average time being an online listing and sale is 13.5 days
The Mercedes-Benz GLB and GLC are both hot property at the moment, taking an average of two weeks to sell
The Ford Kuga is another model that owners can expect to be able to sell in just two weeks.
| Rank | Make | Model | Body Type | Fuel Band | Age Cohort (years) | Average days to sell |
|---|---|---|---|---|---|---|
| 1 | BMW | M2 | Coupe | Petrol | up to 1 Year | 104 |
| 2 | Fiat | 500e | Hatchback | Electric | up to 1 Year | 95 |
| 3 | Volkswagen | ID.3 | Hatchback | Electric | up to 1 Year | 90 |
| 4 | BMW | 2 Series Active Tourer | MPV | Petrol Plug-in Hybrid | up to 1 Year | 89 |
| 5 | Volkswagen | ID.5 | SUV | Electric | 1 to 3 Years | 84 |
| 6 | Audi | Q5 | SUV | Petrol Plug-in Hybrid | up to 1 Year | 80 |
| 7 | Land Rover | Range Rover Sport | SUV | Petrol | 5 to 10 Years | 79 |
| 8 | MG | MG HS | SUV | Petrol Plug-in Hybrid | up to 1 Year | 78 |
| 9 | Ford | Mondeo | Hatchback | Petrol | 10 to 15 Years | 73 |
| 10 | Mercedes-Benz | V Class | MPV | Diesel | 3 to 5 Years | 70 |
| Source: AutoTrader | ||||||
The BMW M2 is the model that is taking longest to sell, with Auto Trader quoting an average of 104 days for examples that are less than a year old
Additional Selling Tips and Considerations:
- Understanding Seasonal Demand: The car selling process is influenced by various factors, including seasonal demand. For example, convertibles are traditionally thought to be more desirable in summer, yet data shows early spring as the optimal selling time.
- Strategic Pricing and Advertising: Aligning the sale of your vehicle with these identified peak times can attract more interested buyers and competitive offers, potentially increasing the final sale price.
- Preparation for Sale: Regardless of when you decide to sell, ensuring your vehicle is in good condition, with all necessary repairs and cleanings completed, will help you achieve the best possible price.
By carefully considering these insights and preparing accordingly, sellers can effectively navigate the used car market to optimize their sales outcomes and achieve higher returns on their vehicle investments.