Is There A Best And Worst Time Of The Year To Buy A Used Car?

There are endless rumors about when it’s the best time to shop for used cars in the College Station, Texas, area. Some people argue that the end of the year is when dealerships want to get rid of their inventories to make room for new models. Others hold a superstition that certain holidays have the best sales.

While there may be many theories and rumors about when to shop for used cars, it’s worth looking at the data to see the truth. Whether you’re shopping in College Station, Texas, or somewhere else in the country, here’s what the data suggests:

The Last Four Months of The Year?

For there to be a best or worst time to buy a pre-owned car, it helps to know if the auto market has any kind of predictability. The only truly predictable season in the auto industry is when new models are released. Every major auto brand tends to release its new models in the late summer and fall. For example, new Ford models for 2023 will most likely go on sale in September or October of 2022. According to the editor-in-chief at Autolist, the end of the year is the best time to shop for used cars.

When new models are released, we tend to see drivers trade in their old cars to get the newest model. This influx of trade-ins means used car dealerships may have more used cars from which to choose.

When new models are released, many dealerships will offer special promotions or incentives for the current year’s models. That means shoppers can get something that is essentially brand new at a discount. While this is great for new-car shoppers, it doesn’t help the demand for used cars.

When inventory increases through trade-ins and demand shifts towards current model year discounts, shoppers could see lower prices on used cars on the lot. If you’re in an area where winter comes in full force, car dealerships often want to make sales before the weather reduces foot traffic. There’s also something to be said about finalizing deals before the end of the fiscal year. The end of the year could make a great time to buy your next used car. Of course, not everyone agrees.

The First Three Months of The Year

According to a study completed by the automotive research team at iSeeCars, January, February, and December are the best months to buy a used car. This research acknowledges that late fall is also a good time to find a deal but holds that the beginning of the year is better.

The idea is that by January, dealers will feel the pressure to get rid of the outgoing model-year vehicles. You still have shoppers looking at the newest models, trading in their old models, and so on. Essentially, it’s the same recipe as the end of the year.

iSeeCars would argue that the reduced foot traffic in the coldest months of the year makes dealerships more likely to negotiate in order to close deals during this slow time period.

Summer Is The Worst Time To Buy

While it seems that the end and beginning of the year is a great time to find a great deal on a used car, late spring and early summer are the worst time to buy. Those looking for new cars only have to wait a few months for a fresh batch of models to hit the sales floor. That means there aren’t as many trade-ins, and used can inventory is lower than normal.

Nicer weather also brings out more people to shop. This can lead to higher demand for the already low supply, which leads to higher prices and more competition.

Sadly, not everyone has a choice as to when they need to buy a used car. If you have the time, waiting until at least the fall is the best option.