These are the best times of the year to buy a used car
Cars in holiday ads are often depicted with gigantic red bows – an image new car dealers love to promote. But if you’re shopping on a budget, finding a good deal on a used car should get a little easier in the coming months. And next January, you could save even more.
A new report from iSeeCars.com lists the best time of year to buy a used car. And even though we’re not there yet, people who need a new vehicle should still be able to get a discount.
If you really want to save, wait until mid-January. The report says MLK Day is the best time to buy a used car, with 65.5% more deals than average. (A good deal, for the purposes of this study, represents a savings of 10% – or $2,689 – on the average used car price, which is $26,889.)
New Year’s Eve and New Year’s Day come in second with 58.6% more offers.
“Consumers who struggle to find a good deal on a used vehicle will have many more opportunities during the colder months,” said Karl Brauer, executive analyst at iSeeCars. “In general, used car prices follow the average temperature, with both falling between November and March and bottoming out between December 31 and February 28.”
Worst time to buy? That would be June, which has 22.8% fewer transactions than average. July 4th is not much better, with 22.4% fewer transactions.
Here is the full list of the best times to buy:
