Reader Question: A Good – or Bad – Time to Sell?

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Here’s the latest reader question, along with my reply! 

Karl asks: I’m not sure what to do and thought I’d ask your opinion about whether I should try to sell my car now, before the election, or wait until afterward. I’m worried I might not be able to sell it all after the election, if the economy collapses or we are subjected to another WuFlu lockdown.

My reply: This subject came up the other day in conversation with a friend – in the context of real estate. But the subject is still more or less the same. My suggestion is precisely same in both instances:

Why not put it on the market and see what happens?

I see no downside. If you find a buyer at a price that’s acceptable to you, then you’re good to go. If the car doesn’t sell at a price you’re ok with then you haven’t lost anything except perhaps the small cost of placing an ad.

Remember: You don’t have to sell the car (or the house) at a fire-sale price. Of course, there is also the chance that you may not be able to sell it at all if the economy collapses and the country falls apart.

But in that case, we’ll all have more to worry about than the buying and selling of cars – and houses!

. . .

Got a question about cars, Libertarian politics – or anything else? Click on the “ask Eric” link and send ’em in!

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  1. Hard to predict any markets in the short-term these days- as we never know what crazy things Uncle is going to do next to pervert any market- but one thing is for sure; the used car market has been in a bubble for a while….and that bubble is going to burst sooner or later. The data lately is starting to suggest that that bubble may be showing signs of an impending implosion, as wholesale used car prices at the auctions are down about 10% over what they had been recently. As of now, retail prices haven’t dropped correspondingly, and there is still high demand- so this may be a golden opportunity to sell anything ya might want to sell, before the big implosion.

    I’m usually very good at predicting such things…but caveat emptor and no guarantees on this one! -We’re in uncharted territory in crazy times, so anything and everything can happen…but if I had anything I was even thinking of selling, I would sell it right now….I mean right this minute! -Be it a newer used car, a classic, whatever. Only thing that might not matter, and which may actually go up in value while everything else goes down, would be cheap old beater cars. Gonna be lots of people looking for them within a few months.


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