- The used-car market fluctuates throughout the year, and car sellers should think hard about the best time to list their beloved vehicle for sale.
- According to experts and a recent study, the warmer months are generally the best time to sell a car.
- Convertibles and sports cars likely sell better in the spring and summer, too, but all-wheel-drive cars may see increased demand in the fall and winter.
- The most popular cars in the US – namely trucks and SUVs – will likely sell well throughout the year, experts told Business Insider.
- Visit Business Insider’s homepage for more stories.
Some drivers may be inclined to simply sell or trade in their old car whenever they buy a new one, because that seems to be the most logical approach. But being strategic about the time of year you sell your old car can pay off in a major way, bringing in more buyer interest and ultimately more cash for your vehicle.
Selling a car privately can be a daunting and lengthy process, which is why so many people decide to take a hit financially and trade in their car to a dealership instead of listing it themselves. But, if you choose the time of year to sell your car wisely, you can potentially save yourself a great deal of time and trouble.
“If you’re the individual seller, advertise [your car] when you know people are likely to be out looking,” Brian Moody, executive editor at Autotrader, told Business Insider. “The more interest you have, the quicker the process will go.”
But the ideal time of year to sell your car depends on factors like where you live and the type of vehicle you own – not to mention, some of the most popular cars likely sell well year round, experts told Business Insider.
Although 2020 is shaping up to be an atypical year in terms of new- and used-car sales - and in many other ways - here are some tips for the best times of year to sell your car:
Warm weather tends to bring out buyers, experts say.
Experts told Business Insider that sellers are more likely to get top dollar for a used car during the warmer months, when buyers are more likely to venture out and take a look at cars listed for sale.
"Usually when the weather is nicer, people are more apt to want to come out and look," Moody said.
Ronald Montoya, senior consumer advice editor at Edmunds, offered similar advice: "The nicer the weather, the more people are likely to come out and see your car. So, it would tend to do well in the spring and summer."
Something else to consider, Montoya said, is that during the warmer months, prospective buyers are less likely to track muck and snow into your vehicle - which can cause major damage over time.
"When it's raining and snowing, I don't think people are as likely to come out, nor do you want random people coming in with wet feet and all that into your car," Montoya said.
Sales of certain cars — like convertibles, performance cars, and classics — tend to be more affected by the seasons than others.
It's important to put a car on the market during the time of year when it's most in its element, experts told Business Insider. For drop-tops, sports cars, and classics, that's the spring and summer, when they're most fun to drive and when all their capabilities can be fully put to the test by potential buyers.
When shopping for a used convertible, Montoya said, buyers "want to take a look at it." In inclement weather, that may not be possible.
"You want to put the top up and down and test the mechanism," Montoya said. "If it's raining or snowing, you probably wouldn't be able to do that."
Fall and winter may increase demand for more capable, all-wheel-drive vehicles.
Convertibles and sports cars are best suited for warm seasons, but other types of vehicles may experience increased demand during other parts of the year.
"If you look at, say, a Subaru Outback or a Jeep, it might not matter that it's snowing," Moody said. "That might be exactly why [buyers] want it. A convertible on a sunny day is in its element just as much as a Subaru on a snowy day is in its element."
The holiday season may be a good time for buyers to find a deal, but that can mean it's not the best time to sell.
"I think that around the holidays is not necessarily a big time for car selling or buying, but there are always exceptions," Moody said, adding that inclement weather and other holiday-related obligations may keep potential buyers home.
Data shows that although the holiday season is a good time to get a deal on a used car, it's not a good time to sell one. According to a study from car search-engine iSeeCars that analyzed more than 40 million used-car sales, prices for used cars are substantially lower than normal on Black Friday, Christmas Eve, New Year's Eve, and New Year's Day, among other holidays.
So, it would be wise for car sellers to avoid putting their car up for sale during the holidays if they want to snag the most interest from buyers and the best price they can.
Used-car prices tend to be higher in April, according to a recent study.
The same iSeeCars study found that April has the fewest used-car deals of any month. That potentially means more money in your pocket in April, if you're selling a car.
After April, the months that saw the fewest used-car deals - and thus the best prices for sellers - were May, June, July, August, and March. That trend backs up the theory that the warmer months are the best time to sell a car.
Secondhand cars generally bring in less money in November, the same study shows.
Research from iSeeCars shows that November has the most used-car deals of any month - that's great for buyers, but it's bad news for those looking to part ways with a used car.
The study found that, after November, the most used-car discounts were available in December, January, October, February, and September. So, sellers may want to avoid putting a vehicle up for sale during those months if they want to get top dollar.
Keep in mind that the best time to sell your car also depends largely on the area you live in.
Since seasonality in car selling has a lot to do with weather, trends may vary depending on the location, Moody said. The changing of the seasons may not influence demand and prices much in temperate areas, but the opposite can be true elsewhere.
"If you live some place like California, probably any time of year is OK," Moody said. "If you live some place where it gets to be like 20 below, unless you're desperate, you probably don't want to go look at a car in someone's yard or meet them at the mall."
When trading in, you'll likely get the most money for your car during the first six months of the year.
If you decide to trade in your car to a dealership rather than sell it privately - a good idea, considering the current emphasis on social distancing - you may get more for your car in the first half of the year, according to Montoya and research from Edmunds.
"When it comes to trading in, we've typically found that the first two quarters of the year actually tend to do better as far as resale value," Montoya said. "That's typically because the car is perceived to be a newer car in January than it would be in November."
The top two factors that affect trade-in value of a car are vehicle age and mileage, Montoya said.
The most popular types of vehicles can be less worrisome, as they can sell well throughout the year.
While you can fuss about the ideal time to put your old car on the market, it's important to remember that some types of cars might be hot anytime.
Both Montoya and Moody said pickup trucks probably see fairly steady demand regardless of the season, and it makes sense: The Ford F-150 dominated used-car sales in 2019.
"Generally, I think it comes down to whatever vehicle types are most popular at the moment," Montoya said. "I think trucks will always have a strong resale value, because people love trucks in this country.
"Right now, SUVs are extremely popular. That is what's selling, so if you have one of those, that'll do well."