Car: when should you resell your car? | Car loan for new car

Is your car starting to accumulate kilometers ? Do you find your vehicle outdated or technologically outdated?

It is time to seriously consider resale on the second-hand market . But to keep a comfortable budget for the purchase of your next car, take care of the timing of this sale!

By separating from your car at the right time, you can drastically limit the breakage for your savings.

1. New vehicle: bet on the long term!

1. New vehicle: bet on the long term!

You buy a new vehicle and start driving with it. Unfortunately, from the first kilometer behind the wheel of your new car, it starts to lose a lot of value.

In fact, during its first 80,000 kilometers , a new vehicle experiences a drop in its vertiginous coastline, which tends to diminish past this milestone, once certain first major maintenance costs have passed.

Morality: if you acquire a new car, be patient before you part with it!

A car loan for your new car

A car loan for your new car

If you sell your car, you can buy one by taking out a car loan. There are several forms of auto credit: restricted credit, rental with option to purchase (LOA) and personal loan.

These are different consumer credits that you will have to choose according to your financing needs and the use you want to make of your vehicle.

2. Diesel or Petrol, double standards

2. Diesel or Petrol, double standards

It is commonly accepted that a diesel engine will cost more to maintain , but will offer a longer service life. Conversely, a gasoline engine will be more economical at the pump and at the garage, but will live shorter.

As a result, a gasoline car will experience a second major landing cap past 120,000 km , when you can wait 150,000 km for a diesel vehicle.

3. Play the watch, but watch the maintenance costs

3. Play the watch, but watch the maintenance costs

Once you have passed one of the psychological caps mentioned above, it can become more interesting to use your vehicle for as long as possible before reselling. This will amortize acquisition costs over the long term and limit your financial losses.

In this type of case, it is the increase in maintenance costs that will trigger the resale action. Since your vehicle has generally lost a lot of value over time, it becomes more attractive to combine a trade-in bonus with a car loan to acquire your new car.