Why It's a Great Time to Sell your Old Car in Ancaster!

Why It's a Great Time to Sell your Old Car in Ancaster!

Posted on September 2, 2021

With a global shortage of semiconductors impacting new car production, there’s also a shortage of good quality used cars. That means the car you hardly use could be worth a lot of money! We asked our Ancaster auto loans team to outline a few good reasons why now might be a good time to sell your old car. This is what they came up with.

Demand outstripping supply

Any time with a commodity is in demand but there is little or no supply is a time when the value of that commodity increases. That’s what’s happening with used cars right now.

There are fewer new cars being manufactured, which increases lead times on new cars, which is causing more people to buy nearly new instead. Others are hanging on to their current cars longer until the situation stabilizes, adding to the shortage of quality used cars.

That makes your car more valuable than ever, which makes it the ideal time to sell your car to a dealership.

You need something larger or smaller

Changing circumstances is another prime reason to change your car. Whether that’s new arrivals in the family or children having flown the nest, a change can mean your current car is no longer fit for purpose.

That could mean sizing up to something that will fit the new arrivals or sizing down to something cheaper to run and easier to park now you don’t need space for a large family.

Either is a good reason for selling your car.

Lifestyle changes

Recently retired and want an RV? Taken up a new hobby and need to tow a jet ski or sailing boat? Planning to go off road? Need space for mountain bikes?

Lifestyle changes are a common driver for changes in a car. While you can adapt all kinds of cars for all kinds of purposes, there’s nothing quite like having something that’s perfect for your new life!

Just need or want a change

Wanting a change is one of the most common reasons for buying a new car. I recently experienced this one myself. Having had my old Ford for 11 years, I decided now was a good time to change it up.

I still bought a sedan, still bought the same engine size and trim level but a much newer model with a lot more technology to play with.

Sometimes it’s the little things that make a big difference!

You want to go green

The rise of the EV and the lowering of prices means more people than ever are going electric. Whatever your beliefs about climate change, we all know gas engines cause pollution.

Electric is the way forward and with a few remaining incentives and lower prices, now is as good a time as any to go green. You’ll need to sell your old car first though.

Selling your car to a dealership is the easiest, lowest risk way of making room for a new car and we can help!

When you’re ready for a car lease or loan, get in touch with the Acton auto loan experts at Northway Ford for great deals on auto finance.

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