A lot of people make the mistake of keeping a vehicle longer than they should, but they often don’t realize how bad of a decision it is to run a car into the ground. They usually end up spending much more than they should on fuel, since older vehicles are less efficient, and expose themselves to unnecessary risks by driving a car with outdated safety features.

There’s depreciation to consider, which can get pretty brutal with certain vehicles. Let’s take a look at a few signs that it may be time for you to sell your vehicle.

Lack of Fuel Efficiency

Car manufacturers are doing everything in their power to make vehicles as fuel efficient as possible, and if you have a vehicle that is eight, five, or even three years old, there’s a good chance that it’s much less efficient than the current models. This is a big problem when considering how high the cost of fuel is at the moment. If you think you’re saving money by keeping your vehicle, you might want to first look at how much you could save in fuel if you picked up a newer car.

The Warranty is About to Expire

You will get more value for a vehicle if there’s some time left on the warranty. This is especially true if you’re trying to sell a luxury vehicle like a Mercedes Benz, for instance. If there is less than one year left on the warranty or you’re getting close to that mark, you should consider selling now or prepare to suffer a serious depreciative hit.

If your car is getting close to the end of the warranty or is already past it and you want to know how to sell my Mercedes Benz fast, don’t panic. There are plenty of people who will be more than happy to take the vehicle off your hands and give you a great deal for it. If you’re looking for a speedy buyer, look at exotic car buying services and ask for a few quotes until you find something that works.

Constant Break Downs

One of the worst things you can do is keep a vehicle that keeps breaking down on you. Some people end up spending more than the value of the vehicle on repairs when they could have sold it. Don’t drag a vehicle you constantly need to pour money on and consider selling it and saving your money until you can get a more recent, more reliable vehicle. And, if you absolutely need a vehicle while you save money, you could always consider going for a short-term lease.

If you want to extract as much value from your vehicle as you can, you need to sell it when it still has some. The longer you wait, the more issues it will have and the harder it will be to get rid of it in the end, so move promptly.