Buying a used car requires not just polished negotiation skills, but also perfect timing. Like most businesses, car trade goes through a predictable annual cycle of sales expansion, peak, and contraction. To find an excellent deal for your next car, you must be able to tell when the prices peak and when they hit a downward slope. This calls for patience as you need to wait for the right time to come.
Here are four simple tips on the best time to buy a used car and potentially save thousands of dollars:
Shop at the end of each quarter
This is a highly guarded secret that most salespersons wouldn’t want to go public. Why so? This time of the year is when they expect to meet their quarterly sales targets, and they’ll do almost anything to achieve them.
In particular, the end of June and December are excellent times because not many people are willing or able to spend money after a party-throwing summer or Christmas holiday. This forces a lot of dealers to offer great deals and discounts during these times.
December is also when many automakers and sales representatives usually meet to discuss performances and pay out annual and quarterly bonuses. This means most salespeople will be gearing up to drive as many sales as possible before that big meeting.
The other reason to buy at the end of December is that cars technically turn a year older on January 1st. The majority of dealers don’t want that as it alters the buyer’s interpretation of the car’s value.
Target major holiday sales
There are several holiday sales you can use to your advantage if you’re looking to save on buying a used car. A lot of dealers will usually offer great discounts on car prices on these special occasions, which include:
The last Monday of May is one of the best days to buy a used car and save. It’s common for automakers to unveil new car models mid-year, and dealers want to ensure they clear their stock before that. So if you’re going to earn a massive discount on a used car of the previous model, Memorial Day is the best time to make your purchases.
This day falls after the 4th Thursday of November, but due to the magnitude of the holiday, most stores extend the Black Friday sales for the entire month. It’s usually characterized by huge discounts on almost everything, and this applies to used cars as well. Even so, brace yourself for stiff competition from other bargain-hunters as the season attracts thousands of buyers all looking to take advantage of the incredible offers.
This is a special day set aside to celebrate workers. And what a better way to mark it than giving them significant discounts?
Car dealers often take advantage of this day to move their summer stock. So, if you’ve been planning to buy a car, the first Monday of September is one of the best times to do it. You’ll likely get a discounted price as a sign of appreciation for your devoted service to the country.
New Year’s Eve
As we mentioned earlier, this is the time when most salespersons try to drive their annual sales targets to receive that mouth-watering bonus and recognition. Also, there’s the aspect of cars decreasing in value if they turn a year older in a few days. A dealer will do his best to make sales at this time, even if it means selling at a discount.
Buy when new models are being launched
The trick here is to wait for the newest models to arrive before shopping for the present year’s model. Car dealerships don’t have the luxury of space, and when the latest models hit the market, they want to make way for them by clearing stock. If you can hold your peace for a little longer, we guarantee you will get a super-quality car at a budget-friendly price.
The other reason to wait is that some car owners are targeting to purchase the new models. This leaves very few people scrambling for the older models, meaning you could find yourself a great car discount.
A caveat though is you’re not the only shopper counting on this money-saving strategy. A slight delay in going for a deal could likely render your whole year’s wait useless. Most automakers start bringing in new models in the summer, so you better mark your calendar.
Shop according to seasons
The best time of the year to buy a four-wheel-drive car, for example, is during the summer. The demand for such vehicles peaks typically during winter and autumn due to the bad weather conditions.
Likewise, the demand for used convertibles usually falls during winter. The worst time to buy them is during summer or spring as everyone is looking for such.
Dealers are also keen to clear used cars before the peak season begins to pave the way for new vehicles that meet the changing demands. Buy your car during off-peak seasons to save big.
Go Buy & Save Now!
Or at the right time, rather. Important tips to help you save big when buying your next ride. As is evident, having some patience will go a long way in ensuring you get the right deal at various seasons and times of the year. Enjoy huge savings by purchasing a used car at the end of each quarter, during major holidays, at the launch of new models, and during off-peak seasons.
While at it, be sure to check out our huge used car inventory and choose from hundreds of thoroughly inspected cars with warranty. We’re one of the best car dealers in Houston with nationwide shipping. Buy now and we’ll safely ship the vehicle to you wherever you’re in the US.
Don’t have enough money to fund your purchase? Talk to us for quick and hassle-free financing by filling out the form below or give us a call on 713-660-8666. We look forward to helping you drive the car of your dreams!