The global coronavirus pandemic has created a challenging time for everyone. For many, livelihoods have either been affected or threatened.
In this economic downturn and a time of uncertainty surrounding household income, there’s increased emphasis on personal financial planning.
That planning can start with a reassessment of your assets. And there may be flexibility around what is commonly the second-biggest asset people own: a car.
Sell The Spare Car
The last census revealed there is an average of nearly two cars per Australian household. A healthy percentage of households own three cars or more.
Selling a spare or unused car is a quick way to free up some welcome cash.
For those who are fortunate not to have lost a job or income, a second car may still have become more redundant with more people working from home – an approach that is already starting to be adopted more permanently by some companies.
There’s still an opportunity to boost income for those who own only a single vehicle: downgrading to a more affordable car.
Which Spare Car Should I Sell?
For households with two cars, it may not be an obvious decision to choose which of the vehicles to sell – especially if there’s little difference in terms of their value.
The best approach is to consider which is the more versatile vehicle. This is a simple one in the case of a dual-cab ute – one of the most popular vehicle types in Australia owing to its ability to perform dual duties: both trade/work vehicle and family transport.
Sacrificing a two-seater sports car in favour of a five-seater sedan, hatchback or SUV would equally make for the wiser option – if not the easier one, emotionally.
Get The Highest Price For Your Car
Selling a car as a form of income boost makes it even more important to get the best possible price.
And that’s where Gumtree Cars’ Instant Car Valuation Tool can help.
With just two simple steps and not even a matter of seconds, this clever online tool provides you with a valuation guide for the car you wish to sell.
Just type in your vehicle’s registration plate, select the state where your car is registered, and the Tool will instantly provide you with its average selling price.
This estimated value range is focused on private buyers. The Instant Car Valuation Tool also details the average dealer trade-in price for those considering an alternative selling option.
The price ranges provided by the Instant Car Valuation Tool are purely a helpful guide, giving you confidence to advertise your car with the right price – and confidence during negotiations with potential buyers.