When Is the Best Time to Sell Your Car? 7 Signs It’s Time to Offload Your Exotic Car

Exotic car owners know: buying and selling is all part of the game. There’s always an exciting new car just around the corner, but it may require selling your current car, first. Timing that sale correctly can make the difference between freeing up the funds you need to purchase your dream car and losing out big time. 

Read on to learn all about selling your exotic car, including why timing matters when selling your car, the best times to sell your car, and how to get the most out of your sale. 

Why Timing Matters When Selling a Car 

When selling your exotic car, timing means everything. Timing impacts a range of different factors of your car sale, including: 

• How much you can get for it: Unlike mass-market cars, exotic cars don’t always follow the same depreciation curve. As exotic cars come in and out of popularity, their prices can change dramatically. A car that has steadily depreciated in value for a decade may suddenly come back into style and appreciate in value far beyond its original sale price.
• How quickly you can sell it: Selling a luxury car can take time, but it takes even longer when buyers are scarce. During times of economic downturn, luxury goods like cars are among the first things to decline. Declining demand and longer sales times can affect the value of your car. 

Signs It’s the Best Time to Sell Your Car 

Considering selling your luxury car? Read on to learn our top 7 signs that it’s the best time to sell your car. 

When You Need to Make Room for a New One

When it comes to exotic cars and supercars, sometimes you need to get rid of one car to make room for a new one. Whether you want to sell your Lamborghini Aventador to buy a fuel-efficient Lamborghini Revuelto, or you’ve stumbled across a rare Ferrari F40 that you simply can’t pass up, selling your exotic car can free up funds for the next one. If you find that you simply aren’t getting the most out of your current ride, a new one may be just the solution. 

When You’ve Built Up Strong Equity 

Do you lease your exotic car? When you’ve built up some equity, it may be the best time to sell your car. If you try and sell before that, you may end up owing more to your lender than your car is actually worth. 

The math is simple. Early on in your lease, you’re paying more in interest than you are on the principal of your loan. Meanwhile, your car is likely depreciating in value, leaving you with a loan balance that’s higher than the actual value of your car. As time goes on, you’ll pay off more and more of your loan principal. Once your car is worth more than the amount you owe, that’s a sign it’s the best time to sell your car—or swap your lease with an exotic car buyer. 

When the Market is Hot 

Supercar values are much more heavily influenced by market demand than the average Toyota. A sudden increase in popularity may spike the value of your car. When that happens, it’s important to strike when the iron is hot. Selling your exotic car at peak market demand can pay off handsomely. 

When Your Warranty is Expiring 

There’s no way around it: exotic car maintenance can be pricey. While most exotic cars come with standard manufacturer’s warranties that cover any mechanical and electrical issues, many owners opt into extended exotic car warranties that cover everything from routine maintenance and general wear-and-tear to roadside assistance, rental car reimbursement, and more. While these warranties cost a few thousand dollars annually, they can save ten times that each year. 

When your extended warranty is coming to an end, it’s time to carefully consider whether ownership still makes sense once you become liable for all maintenance. If the cost of your yearly upkeep outweighs the enjoyment you get from ownership, it may be time to sell your car. 

Before You Hit a 15K Miles 

Exotic car buyers tend to be much more scrutinizing than the average car buyer when it comes to mileage. While 15,000 miles each year may be considered average mileage for a mass market car, it’s considered excessive mileage for an exotic. Buyers want to see less than 15,000 miles total, no matter the car’s age. If you’re nearing that milestone, now is the best time to sell your car. 

Before the Vehicle Turns Three Years Old

Most luxury cars depreciate every year, with the most severe depreciation occurring after the third year of a vehicle’s life. Selling your exotic car before then could help you get the best value for your used vehicle.

In the Spring 

Spring and early summer tend to be the best time of year to sell a car. As people gear up for warm weather and summer travel, exotic car sales spike. You may be able to get a premium for your exotic car by selling it in the spring. 

At the End of the Year

New year, new vehicle? If you live in a state that charges annual vehicle property tax, like Virginia or North Carolina, the best time of year to sell a car is at the very end of the year. Once January 1st rolls around, you’ll be taxed on any cars registered in your name. 

If you sell your luxury car before then, you may avoid paying tax on it on January 1. Be sure to verify state law to understand how the timing of your sale affects your taxes. 

When is the Worst Time to Sell Your Car?

We’ve reviewed the best times to sell your car. Now, let’s talk about the worst. Avoid selling your car during these times: 

• Before maintenance or repairs are due: No one wants to buy a car, then immediately pay for a costly repair. Trying to sell your car when significant maintenance or repairs are in order can result in a lackluster sale. 

• Immediately after a new version is released: If you’re selling a newer exotic car, it’s important to stay abreast of new model releases. A just-released new version may make your car look less appealing and significantly impact its value. 

• When you owe more than your car is worth: It’s essential to wait until you’ve built up some equity in your car, otherwise you’ll sell your luxury car at a loss. 

How to Get the Most From Your Exotic Car Sale 

When to sell your car is only one piece of the puzzle. Follow these car selling tips to get the highest possible return on your car: 

• Get your car detailed: Spending a few hundred bucks on a professional detailing may increase the apparent value of your car by thousands. 

• Have professional photos taken: If you plan to sell your car virtually, professional photos can make a world of difference. A professional car photographer knows how to work with angles and lighting to make your car look its best. 

• Compile detailed records: Put together a folder of your car’s service records, ownership documentation, and any other relevant paperwork. Scrutinizing car buyers will want comprehensive knowledge about its history. 

• Sell to an exotic car buying company: Rather than selling to dealerships, who are notorious for their lowball offers, or on the private sales market, which is rife with scams, sell your car to an exotic car buying company. These businesses specialize in procuring exotic cars and provide fair and competitive offers. 

Sell Your Car Anytime to We Buy Exotics 

When it comes time to sell your car, choose We Buy Exotics. We provide fair, guaranteed cash offers based on to-the-minute market data. All you need to do is accept our offer, and we’ll handle the rest, from paperwork to complimentary vehicle pickup anywhere across the country. We know the value of your car and will give you the best price for your luxury vehicle. Contact us today to get started.