Bought a new car in 2011 after going through two disastrous used cars. Wanted to hear when would be the best time to sell the car for the most bang for the buck. I know I should've bought used but didn't want to go through the mechanical troubles again.
Thanks!
| +21 | Why leave this game? | 7 | 1d |
| +19 | What’s with the uptick in angsty teens posting on here | 5 | 5d |
| +10 | Matched with my MD on Hinge - Advice? | 8 | 13h |
| +10 | Intern Nitpick | 5 | 12h |
| +8 | NYC 1st year IB analysts starting in June, where are you living and how expensive is your lease | 4 | 15h |
| +7 | Tbh I’m an alcoholic | 1 | 7h |
| +6 | Smoking Weed in Spain | 6 | 5h |
| +5 | Needing the bathroom once every 1-2 hours... is this normal? | 8 | 2d |
| +1 | The Terminal List Season 2 | 2 | 3d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
I think that the only "good" time to sell a car, assuming you would just wind up getting another one, is never.
Depending on the type of car you bought, it should last you 10+ years assuming good maintenance. If you'd rather not be the sensible Joe (which is perfectly understandable), then the reality is that there is no good time to sell a car beyond the first 4-ish years. Extend that number further out the more expensive your car is; ie, a 10-year old beamer will fetch an appropriate 10-year old car's price, whereas you might get someone trying to barter silverware for a 10-year old Civic.
That said, here's my rough range for ideal sale:
Hope this helps.
That was helpful. Thank you!
You can get a used car with like 8K miles and the remainder of the manufacturer powertrain warranty for ~70% of the new price.
You can lease if you're looking to always be driving a relatively new car.
Eius voluptas molestiae sed beatae. Possimus consequatur itaque aspernatur nesciunt maiores qui vero.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...