Best Time of Year to Buy a Used Car
If you are thinking about buying a used car, the timing of when you do it can mean saving thousands of dollars or spending thousands more than you needed to. Showing up to a dealership in April is not the same as showing up in November prices, available deals and how willing sellers are to negotiate all change depending on the time of year. Here we break down when to buy, when to wait, and how to get the most out of your purchase.
The Best Time of Year to Buy a Used Car: October, November and December
If waiting until the end of the year is an option for you, do it. According to Edmunds data, October, November and December are the best months to buy a used car. One of the reasons is that this is when next year's new models launch, which pushes dealers to move their current inventory fast. That translates into better prices, more willingness to negotiate and sometimes special financing offers.
December is especially powerful since it combines the end of the month, the end of the quarter and the end of the fiscal year all at once. Dealers have targets to hit and that works in your favor. Black Friday and Veterans Day in November are also among the days with the most deals available all year.
August and September: Good for Least Years Models Closeout and Clearance
Another window worth taking advantage of is August and September, when next year's models start arriving on lots. A current year car sitting in a dealer's inventory in September, with new models already coming in, becomes more urgent to sell. That gives you leverage to negotiate the price down.
When NOT to Buy: March and April
If you have flexibility with timing, try to avoid buying between Presidents Day and Memorial Day. This is when tax refunds hit bank accounts and a lot of people head out to buy cars, which drives up demand and gives dealers less reason to offer discounts.
High spring demand also means less inventory available and used car prices tend to rise. It is the worst combination if you are looking for a good deal. So try to avoid March through April if you can.
But What If You Need to Buy Right Now?
We know you cannot always wait for the perfect moment sometimes the car breaks down, the family grows or it is simply time. In that case there are other ways to still get a good deal:
Buy at the end of the month: salespeople have monthly targets and at the end of the month they are more willing to negotiate to hit their numbers
Go on a weekday: Mondays and Tuesdays have fewer people at dealerships, which means more attention for you and more negotiating power
Have your financing ready: if you arrive with a credit pre-approval, negotiating the car price is easier because you are not depending on the dealer's financing
Apply for Financing at Southtowne Auto Mall
Ready to Buy?
Whether you found the right moment or it is simply time to make the move, at Southtowne Auto Mall in Sandy we have hundreds of used cars available from SUVs and trucks to sedans and vehicles under $14,000. We are just a few minutes from Draper and South Jordan. Use the payment calculator to estimate your monthly payment before you visit.
