10 Best Times of the Year To Shop for Used Cars
Timing matters more than you think.
While year-end sales often grab attention for new cars, scrappy shoppers know that used car prices fluctuate throughout the year and picking the right moment can save you thousands of dollars.
iSeeCars released a top 10 list of the best times in the year to buy a used car, so let's break them down to help you get the best deal if you are in the market. Here they are ranked in descending order of percentage more deals than average, according to the study.
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10. Halloween
Even though it's spooky season, it doesn't mean buying a used car has to be scary. The big day, Oct. 31, has 6.8% more deals than average, as autos dealers are trying to move inventory off the lot in the third quarter.
9. Thanksgiving/Black Friday
November has a few dates that are best to buy a used car, with the combination holiday-sales event of Thanksgiving/Black Friday ranking as the second-best time in November to cash in on a deal that is, on average, 9.5% higher during those 48 hours. More on that in No. 6.
8. December
The temperature is dropping, as are the prices on used cars, with December offering 15.2% more deals on average than the rest of the year. Christmas may be on the 25th, but you can treat yourself to a used vehicle at a great price all month long.
7. Christmas Eve
Can't wait for Christmas morning to unwrap your used vehicle? That might actually work in your favor in terms of saving money. iSeeCars found Christmas Eve also has 15.2% more deals on average for used cars, with Christmas Day not even making it into the rankings.
6. Veterans Day
Circling back to November, one of the major holidays and best times to get a car is on Veterans Day. The data shows customers tend to get 23.1% more deals on average that day, with service members possibly eligible for further military discounts, depending on the seller.
5. February
Love is in the air during the second month of the year and not just because of Valentine's Day. Consumers can get 36.2% more deals on average for a used car if they shop during February, according to iSeeCars.
4. Presidents' Day
Most people have Presidents' Day off. However, your local dealership is probably open and ready to get you a stellar price on a used vehicle. That's because there are 47% more deals offered on this day when Americans salute two former commanders in chief.
3. January
That's right, the whole first month of the year. While a cold front might set in at the start of winter, deals are sure to heat up, as the month of January was found to have 55.6% more discounts and markdowns on used vehicles than the rest of the year.
2. New Year's Eve/Day
It's a countdown to a superb deal on a used car or the celebratory way to mark another trip around the sun. Either way, consumers can expect there to be 58.6% more deals on average on New Year's Eve and New Year's Day than at any other time of the year.
1. Martin Luther King Jr. Day
January also has a few select holidays during which you can find a fantastic deal on a previously owned car. Martin Luther King Jr. Day tends to have 65.5% more deals on used vehicles compared to the rest of the year.
J. Arky contributed to the reporting for this article.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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