When Should You Buy a Used Car?

If you read that question and think the answer is simply as intuitive as saying “when you want or need one” or “when your old one breaks down and can no longer run” you would be sorely mistaken. There are the right times of the year and the wrong times of the year to buy a used vehicle. If you know what some of the market trends are you can find some of the best deals in the automotive market during specific times of the year so that you can save a lot of money. Remember that $1,000 in price on your vehicle typically represents about $20 per month in your payment, so if you can save a few thousand by shopping at the right time it’s certainly worth it.

The best times to buy a used car throughout the year are on Black Friday, Veterans Day, Thanksgiving, Columbus Day, Martin Luther King Day, Christmas Eve, Christmas Day, New Year’s Eve and during November and December. The deal range from 33.1 percent more deals on Black Friday as a high to a low of 21.3 percent more deals on New Year’s Eve. This gives you a great way to find the vehicle you want on some of the most popular shopping days of the year.

Conversely there are several times of the year that are not good for shopping for a used vehicle. These are typically during some of the slower sales times, which means dealers are trying to get all the money they can out of their vehicles and have fewer deals to offer you. The worst times to shop are on the 4^th of July, Mother’s Day, Easter, Good Friday, Memorial Day, Father’s Day and during the months of April, May, June and July. During these times you will find anywhere from 11.5 percent fewer deals to 28 percent fewer and end up paying full price for a vehicle.

Now that we have given you the knowledge as to when you should and shouldn’t buy a used vehicle, let’s look at the holidays. There are celebrations all year long and car dealers love to offer you special sales on vehicles because of the holiday. The best holidays to buy a used vehicle are Black Friday, Veteran’s Day, Thanksgiving Day, Columbus Day, Martin Luther King Day, Christmas Eve, Christmas, New Year’s Eve, Halloween and New Year’s Day. If you notice these are all holidays that take place between October and January to give you the best times to shop and enjoy an increase in deals that range from 15.8 percent more to a massive 33.1 percent more deals than normal.

Once again the other side of this coin also give you the other side of the calendar. The worst holidays to buy a used vehicle are the 4^th of July, Mother’s Day, Easter, Good Friday, Memorial Day and Father’s Day. For some reason vehicle deals aren’t offered as much at this time of year and you will only enjoy a few deals as there are anywhere from 18.3 percent to 28 percent fewer deals to be had on these holidays.

Now that we have identified the times during a calendar year that you should buy a vehicle and the months you shouldn’t it can be dialed down to days of the week as well. On Monday thru Thursday you will find more deals than you will on Friday thru Sunday. This is based upon the average amount of foot traffic that comes into dealerships on those days of the week. Another good time to pay attention to is the beginning and end of the month when dealers are either trying to start off a month on a high sales note or to have a strong finish. There are deals out there to be had, but you have to be ready to take advantage of the deals you can have at the right times to make sure you have the best deal you can get on your used vehicle that will serve you well for many years to come.