Have a car that’s been with you for a journey and you’re thinking if you should sell it? It’s perfectly normal to be thinking about this question. After all, your car mileage plays a huge factor in your car’s resale value. It’s logical that you’re planning ahead deciding when you should sell off your car.
Here’s a quick guide by us from seeking professional opinion from car dealers and workshop handymen on when you should replace your car based on car mileage.
So exactly how long should you keep your car around before you decide it is time to sell it?
It Depends.
The answer is: It depends on your preferences!
Statistically, Malaysians tend to sell their car off after owning it for about 6-8 years, or about 100,000km to 150,000km in terms of mileage.
1. (0 – 50,000km)
It’s probably not the best time to sell just yet.
According to car manufacturers, your car loses at least 10% of its value the moment it leaves the showroom. Ouch! Isn’t it a better idea to maximise the satisfaction you get out of the car before you decide to sell it off? People who sell their car off at this stage like to keep themselves up to date with the latest car models of their favourite rides.
One thing for sure is that it is incredibly easy to get a buyer at this stage due to the newness of your car and also its low car mileage. At this stage, your car gets the best resale price since it is nearly as new.
2. (50,000km to 99,999km)
Your car has been through some journeys with you but its warranty is still valid. Besides a few minor issues here and there, it will probably meet its first major maintenance around this period. But nothing to sweat about since it is well within its warranty period!
Congrats on reaching 99,999km! This is a good time to sell off your car because you’ve got the best of both worlds: Being able to enjoy the ride and also able to retain as much value as you could have before warranties expire and right before your car mileage hits the 100,000km mark. Who wouldn’t want that?
Did you know?: A car with a mileage reading of 98,000km and 100,000km may vary in price even though it’s just a 2,000km difference! This is due to the general public’s psychological barrier. People tend to make up a huge gap between the 5-digit figure and 6-figure reading on the odometer even though it’s not true.
3. (100,000km to 150,000km)
At this stage your car’s general warranty has probably expired and that can affect the value of your car’s resale value. No doubt that your car has experienced quite a bit of a journey with you, and has gone through some major repairs throughout its lifetime. But at this stage a typical car can run for at least another few years before it dies.
If you’re thinking of selling your car off at the best value, be sure to check out at CarCo as they are one of Malaysia’s top online car dealing platforms.
4. (160,000km – 200,000km and above)
At this stage your car probably has depreciated pretty much in terms of value. This is due to the fact that most consumers filter out cars with high car mileage reading, and car dealers usually find it hard to sell it off to buyers.
The takeaway
To conclude, this article serves as a general guideline to give you a rough idea of how car mileage affects car value. Ultimately, it is up to you to decide when it is best to sell your car.
If you want to see how much your car is worth, head on over to CarCo and have their professional team give you a quote!
