Best Time To Buy a Used Car
Almost everyone needs a car in order to get around. Unfortunately, the cost of buying a vehicle is not cheap. One way to save some money is to purchase a used car. In order to get the most savings, it is important to purchase a good used car that is mechanically sound. It is also important to make sure that you are buying a used car at the right time.
When you choose the right month, day, or season to purchase a used car you can lower the amount that you spend and possibly find a deal that is going to save you money over the course of your loan. Often, the best time to buy a used car is the same as the best times to buy new cars. Here are some of the best times to buy a used car.
Holidays
Christmas Eve, black Friday, and Veteran’s day are well known holidays for providing the best deals on cars. It is best to avoid holidays such as Easter, Mother’s Day or Father’s Day, as these are days that people tend to gather. Dealers will be light on staff and private sellers are going to be more focused on their family events, which means that the prices are going to be higher.
Big holiday weekends are popular for people buying new cars. This means that dealerships have many more trade-ins coming in than normal. When there is an overabundance of used cars on the lot, you are more likely to get a better deal.
Car dealerships will advertise deals heavily. While these deals might look great, that is not always the case. Before purchasing any type of used car it is important to know what the car is actually worth and what you should pay for it. The sign might advertise a deal, but that does not necessarily mean that it really is.
New years offers the trifecta when it comes to purchasing a used car. It is the end of the year, a holiday, and during the winter.
When you choose the right month, day, or season to purchase a used car you can lower the amount that you spend and possibly find a deal that is going to save you money over the course of your loan. Often, the best time to buy a used car is the same as the best times to buy new cars. Here are some of the best times to buy a used car.
When Is the Best Time To Buy a Used Car?
Before You Need a Car
Many people do not think about buying a car until they absolutely have to. However, it is best to start doing some research before your car breaks down and you are put into a situation where you need a car right now. If you start looking before your current car breaks down, you have the chance to shop around and find a car that meets your budget and needs. You can also search for deals and affordable financing options as you will have the time to do so.Holidays
Christmas Eve, black Friday, and Veteran’s day are well known holidays for providing the best deals on cars. It is best to avoid holidays such as Easter, Mother’s Day or Father’s Day, as these are days that people tend to gather. Dealers will be light on staff and private sellers are going to be more focused on their family events, which means that the prices are going to be higher.
Big holiday weekends are popular for people buying new cars. This means that dealerships have many more trade-ins coming in than normal. When there is an overabundance of used cars on the lot, you are more likely to get a better deal.
End of the Year, Quarter, or Month
Most dealerships provide quotas that their salespeople have to meet every year, quarter, and month. Choosing to buy a car at the end of these times is a good way to strike a deal. Buying a used car at the end of the year is typically one of the best choices. With compensation being tied to meeting their goals, salespeople will work harder for you to get a deal.Off-Season
Another way that you can likely score a good deal on a used car is by purchasing your vehicle during the off-season. For example, if you have had your eye on a convertible and live in the Snowbelt, consider making your purchase during the winter months when demand is lower. SUV sales are typically strong during the early part of the winter. In the spring, gas prices often go up and result in SUV owners wanting to get rid of their SUV that does not get very good mileage.Look for Deals
Certified pre-owned cars are often available with financing incentives from manufacturers. These vehicles often come with interest rates that are often lower than the marketplace average. Zero percent offers are the best types of financing deals, but these are getting more difficult to find as interest rates are climbing. A true certified pre-owned car will only be available through a franchised dealership. Often, these vehicles have a price tag that is a bit higher than a used car that is not certified. However, these are the only types of cars that will come with manufacturer deals.Car dealerships will advertise deals heavily. While these deals might look great, that is not always the case. Before purchasing any type of used car it is important to know what the car is actually worth and what you should pay for it. The sign might advertise a deal, but that does not necessarily mean that it really is.
Winter
It is best to purchase a used car in the winter. The main reason for this is because demand during the winter months is quite low because no one really wants to be walking around a car dealership when it is cold and nasty outside. With lower demand, the prices of cars are much lower as well. On the other hand, if you can, avoid buying a used car in the spring. This is the time of year with the highest prices and demands for both used and new vehicles.New years offers the trifecta when it comes to purchasing a used car. It is the end of the year, a holiday, and during the winter.