Want to sell your car online, say CARS24, however unsure when to do so? The kms run of a vehicle does impact its value. Be it the actual evaluation by the dealer or even a potential buyer’s perception (irrespective of the actual condition of the car), this parameter does heavily contribute to its resale value. Hence, even if your automobile is indeed in pristine shape, this may not be sufficient to uphold a high value (especially with higher kms run).
When to sell? various kms run bands
Although people may find it customary to hold back prior to reaching the ‘10,000’ kms limit, there are other factors to consider, such as:
0 – 30,000 kms:
The rate of depreciation is highest during this period, meaning that within the first 3 years or 30,000 kms, your car will lose its value at the fastest rate. Unless you wish to continually upgrade to the latest model, waiting it out till 10 years and then selling it off (albeit at a lower price) will still be worth it in the long run. Don’t forget that the selling process also involves fees and expenses, so beware! Nevertheless, if a larger lump sum is what you’re seeking, then now is the best time.
30,000-60,000 kms:
By now, you would have had your first service and may run into minor technical issues. However decent brands with good maintenance and provided that there’s no damage, will minimise suchlike. The value will continue to decline but at a much slower rate than before. This is an apt time to sell if you wish to achieve a balance between resale value and future investment. Given that it could be around 5 years old, your vehicle will be about to enter a potentially problematic phase. Hence surrendering it now (so to speak) would be a good option or compromise. You could still earn enough from this to supplement buying a newer model.
60,000-100,000 kms
Ideally by now, you’d have utilised all the productive life out of your car and it’s time to sell! With a good service record and perhaps a few pricey repairs, it’s still roadworthy and viable plus appealing for other buyers. Now you can look for newer options.
100,000+ kms
Also termed as the ‘veteran’ vehicles, owing to their versatility, these become somewhat iconic to sell. Nevertheless, practically speaking, this category of aged cars is seldom bought and rather avoided by both consumers as well as dealers. People will intentionally apply filters during search criteria when buying or selling online, as they don’t wish to risk potentially expensive maintenance or repair bills. They may run perfectly but given that most cars are designed to conk out after 150 K kms, this becomes a risky investment. Cars beyond this range are often sold as scrap. Can’t blame them for being cautious either really…would you risk it? I certainly wouldn’t!
Summary
So, there you have it. If you’re considering selling your car online, be mindful of its age – more specifically, the kms run. You’d be surprised: a lower kms run car which may have a shabbier interior or exterior and appearance will still outvalue an aged one in pristine condition. Decide wisely when to sell, depending on the desired resale value and your future prospects.
Whatever kms run that you choose to buy or sell a car, CARS24 has a wide array of vehicles that have run anywhere between 400 kms to 4,00,000 kms to choose from and to list on.
