What Used Cars Sell the Fastest?
Selling a car is almost always time-intensive, but different cars are sold at varying rates from one another. A lot of factors can affect how quickly a given automobile is sold, including its age, model, and more. Furthermore, sales trends are not universal and fluctuate from year to year.
If you’re wondering what used cars sell the fastest, you’ve come to the right place. Let’s take a look at the fastest sold used car models in detail, plus examine the main factors that may affect how quickly or slowly a certain car model may sell in used condition compared to others in its category.
Average Time To Sell a Used Car
That depends heavily on a variety of market conditions and other factors, including the price of the car, its condition, and so on. That said, a study performed by iSeeCars indicated that the average time to sell a used car was approximately 51.5 days (or just under two months).
If you need to sell your vehicle more quickly than this, don’t give up. You may be able to accelerate how quickly you sell your vehicle by taking a few smart steps.
Top 10 Fastest Sold Used Car Models
At the time of this writing, the top 10 fastest sold used car models are the models seen below. Keep in mind that the fastest-selling used car models can fluctuate from month to month. Additionally, different car models may be popular in different years due to wider economic market conditions.
- Honda Clarity Plug-In Hybrid – 22.2 average days to sell
- Nissan LEAF – 23.3 average days to sell
- Chrysler Pacifica Hybrid – 26.5 average days to sell
- BMW i3 – 28.6 average days to sell
- BMW 2 Series – 28.7 average days to sell
- Toyota Previous – 29.4 average days to sell
- Mercedes-Benz GLB – 32.5 average days to sell
- Tesla Model 3 – 32.6 average days to sell
- Hyundai Ioniq Hybrid – 32.9 average days to sell
- BMW X4 – 34.1 average days to sell
As you can see from the above list, a few trends clearly emerge. For instance, electric vehicles like the Tesla Model 3 and Nissan LEAF are being sold in a used condition more frequently than they are being purchased new. This could be because of market speculation—some drivers are jumping into electric cars, then discovering that there isn’t enough electric infrastructure to make them viable for longer journeys in many parts of the country.
Other notable takeaways from this list include:
- Used luxury cars are also sometimes sold at higher than average rates, such as the BMW 2 Series
- Luxury compact SUVs are being sold used more frequently, as you can see with the BMW X4
This list should inspire you if you are trying to sell your used car quickly. No matter what type of vehicle you want to get off your hands, odds are someone will pick up for the right price if they are in the right location.
When Is the Best Time To Sell a Used Car?
Generally, the worst time to sell a used car is right after tax season, as many people may have sold their vehicles or need to pay off taxes. It’s not surprising, therefore, that the best time to sell a used car might be in August or September of each year. This strikes a sweet spot in between big-spending seasons for Americans.
People haven’t yet spent money on Christmas gifts, so they may have enough money to buy a used car if they need another set of wheels. Furthermore, people may wish to pick up a used car in good condition before winter storms hit their areas.
What Affects How Fast a Used Car Sells?
If you want to sell your used car quickly, keep these factors in mind, as they may affect how quickly you get a willing buyer and can close a sale.
Naturally, the price of a used car can affect how quickly it sells. The cheaper the car, the faster it will sell in general, but keep in mind that overly cheap cars don’t sell very frequently either.
Why? If there’s a car being sold for rock-bottom prices, people will naturally assume something is wrong with it. Therefore, if you want to sell your used car fast, you need to price your car affordably but not too low such that you give people the wrong impression about your vehicle.
If a car’s make and model has a great reputation or is particularly desirable, it will sell more quickly. For example, Tesla Model 3s are in high demand because people want to get in on the electric car craze. So if they find a used version, they may jump at the chance to purchase it for lower than the initial asking price.
The reverse is true, of course, for vehicles that aren’t in demand for one reason or another. If you have an old junker that no one has wanted to purchase in decades, don’t be surprised when buyers don’t line up out the door.
Miles and Condition
A used car that has fewer miles and that is in better condition will sell more quickly than a vehicle that has hundreds of thousands of miles under its proverbial belt. If you want to sell your used car quickly, be sure to wash it and get it up to working order.
Odds are that anyone trying to buy a used car will want to take it for a test drive, anyway.
Lastly, broader market conditions can affect how quickly your used car may sell. For instance, the COVID-19 pandemic cost many Americans tons of savings. So for a while, used cars weren’t selling very often because people didn’t have any money to make big purchases.
That seems to have changed in recent months, but something like that could happen again and delay your efforts to sell your used vehicle quickly.
At the end of the day, it could take you anywhere from a couple of weeks to several months to sell a used automobile. It all depends on the model of the car you have, the broader market conditions, and other factors described above.
However, you may be able to sell your used car a little more quickly if you contact the rental agency – they may be willing to buy your vehicle for you if it’s in good condition. Lots of rental agencies are looking to expand their fleets after COVID-19 since many of those companies had to sell off cars due to a lack of revenue.
But Advantage Rent-a-Car is the opposite. Not only do we have a varied and diverse fleet of quality rental vehicles available, but we also work with renters just like you to get you the wheels you need at major airports and other locations. Contact us today to see what rental vehicles we have—or to see if we’d be interested in buying your used vehicle from you!
The Hottest New and Used Cars in November and Year to Date | iSeeCars.com
US: Tesla Model 3 Continues To Be The Fastest-Selling Used Car | Insideevs.com
Covid-19 crippled US auto sales in 2020 but it could have been worse | CNBC