Summary:
The best time to buy a used car is influenced by seasonal trends and specific events. According to data from iSeeCars, used vehicle prices have risen nearly 30% above pre-pandemic levels due to strong demand. Particularly for one-to-five-year-old cars. Historically, used car prices tend to peak in the summer and drop in the winter months. The best time to find a deal is typically between November and February. With December and February offering the most discounts—around 32% and 31% more deals, respectively. January is also considered ideal by iSeeCars. Some sources, like Edmunds, note that prices tend to rise in January due to dealer strategies.
Best Times for Deals
Specific holidays like New Year’s Eve, Presidents’ Day, and Black Friday also provide substantial savings opportunities, with New Year’s Eve offering nearly 48% more deals. Conversely, summer months, particularly June and July, are among the worst times to buy, with fewer deals available due to increased demand and high pricing.
Factors to Consider
Additionally, car shoppers should be aware of factors like financing rates, trade-in values, and vehicle condition when evaluating what constitutes a good deal. Expensive vehicles may come with high interest rates, and pre-owned cars below market value might need costly repairs soon after purchase. Buyers should also be cautious of “sales events” and ensure they do their research before making a purchase.
Conclusion
In conclusion, by shopping during the colder months, around holidays, and avoiding peak summer pricing, buyers can increase their chances of finding a great deal on a used car.
Automo Blog
Read the Full Article
