Should I sell my van?
If you’ve asked yourself the question of whether you should sell your van in the recent past, then you’re in the right place. Knowing when it’s best to part ways with your trusty van is nearly impossible – there’s never a perfect time to sell your van but the longer you wait, the less value it will retain.
Of course, there are some situations where it makes sense to make a change and, depending on your circumstances, doing so would be a positive step. We’ve broken down some of the situations that might get you asking, ‘should I sell my van?’ and shown the best way to approach them.
What are your needs?
Ask yourself if your van is suitable for your current requirements. This is particularly important if you use your van for commercial purposes, but can apply to anyone – you bought a van for a reason, after all. If you’re having to make concessions for your vehicle, like not transporting as much as you’d like or poor mileage during extended use, then it might be time to think about selling your van and purchasing a model that will meet your demands.
Likewise, if your van is overkill for your current situation – loads of empty space in the back, a heavy-duty engine that never breaks 30mph – then you could look at downsizing into something more reasonable.
More often than not, growing businesses will need to improve on their infrastructure. A van is no different and should be treated as an asset in this regard. Don’t let your van be the boss; make it work for you.
How much have you invested in your van?
If you’re investing valuable money into a van, you want to make sure you’re getting a good amount of use out of it to compensate. Everything from insurance, maintenance costs, vehicle tax and even the cost of fuel will add up to a significant sum – make sure you’re getting a return on that investment at all times.
If you’re finding that it’s simply just too expensive to keep your current van running, consider selling and moving to a smaller or more efficient model; tax and insurance costs vary depending on a number of factors, so you could save by simply downgrading.
As an additional note, always make sure to have your van properly insured. If you use your van for any business-related activities – even regular commutes to your place of work – then you’ll require different insurance than the standard private option. This can have an impact on your cost calculations, so be sure to consider this.
What condition is the van in?
The condition of your van will have a huge impact on how much money you can hope to receive when you sell, so it’s important to take this into consideration. Most vans are robust and should run for a long time if kept in good condition, but if you foresee any serious reliability issues in the near future that you aren’t prepared to pay for, consider selling it to avoid the hassle of maintenance.
Comparatively, if your van is in absolute pristine condition, there’s very little reason to sell. Whether it’s a newer model or you’ve just been super diligent in caring for it, a working van is worth holding on to for the time being.
Considering that most new vans will lose a significant portion of their value during the first 3 years, we recommend looking to make a change around year 5-6 to get the best price after extended use. Medium vans tend to hold their value better than small or large vans, mostly due to their adaptability and size, so you can use this to your advantage and get more back in the end.
Learn more about how the condition of your van affects its value.
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