Best Time to Buy a Used Car

Best Time to Buy a Used Car

A used car is a great option if your current car has broken down and you are looking for an affordable option? Or probably this is your first car and you have a tight budget. Buying a used car can save you money rather than purchasing a new one.

However, a lot of consideration goes into buying a used car to help you get the best deal. You need to buy the used car at the right time if you want to get the best possible price.

If you are contemplating buying a used car from used car dealerships, here are some tips that can help you.

  1. When You are Ready

The most important time to buy a used car is when you are ready to make the purchase. You fist need to do comprehensive research on various used vehicle dealerships and read their reviews online.

 You also need to research the used car that you are interested in and gather as much information as you can. Besides, the best time to research a used car is before you even need one. Start your research early so you can sell or trade in your current car at a good price and purchase a used car for sale that fits your needs and requirements.

Don’t forget to check your credit score and make sure that you are fully prepared to make the purchase.

  1. Off-Season

Seasons like winter seem to be a good time to negotiate purchase for used vehicles. This is especially true for models like convertibles, whose demand lowers during this period. Besides, demands for cars tend to be low during winter since not many people are willing to test drive cars in the months of winter.

Spring is another great time to purchase a used SUV. At this time, fuel prices are likely to be on the rise and dealers are likely to sell the SUVs at a considerably lower price.

  1. End of the Month

The end of the month is a good time to purchase a used car because salespeople may be looking to close used car deals quickly. They are more motivated to sell more cars so that they don’t fall short of the sales quote, which could earn them a huge bonus, even if its decreases their profit margin.

Consequently, you are likely to get a good car and enjoy great discounts if you buy at this time. Therefore, you can keep inquire with the dealer at the end of the month and see if they are willing to sell at a lower price.

Nevertheless, you need to be careful when using this approach since not all used car dealers that give a good deal at this time are trying to make a sales goal. This calls for more research and scrutiny to ensure that you don’t end up with regrets.

  1. After the Release of New Models

Have car manufacturers just released new models? Well, it may be a good time to pay used car dealershipsa visit and see if they are willing to part with old models at a cheaper price.

Most owners of the old car versions tend to sell or trade their vehicles for the new ones. An increase in the sale of the new or redesigned models lowers the demand for used models.

  1. When the Weather is Good

Most dealers take advantage of bad weather to make quick sales for used cars with defects. You should only purchase a used car on days when the weather is favorable and you are able to identify the defects.

Take your time to scrutinize the car and check whether there are defects on the glass, wheels, and tires. If the defects are manageable, negotiate with the dealer for a better deal since you will still have to repair them later.

  1. End of Calendar Year

It is believed that making your purchase at the end of calendar year will give you a lot of savings. According to data, December has the highest incentives and the highest discount off MSRP, which is 6.1% on average. This month records 29% more deals on average than other months.

 This means that you can get a used car at the best price possible. Besides, this is the time that most dealers are motivated to close the year with great sales. What’s more, a number of dealerships are also looking to get rid of the older versions cars in order to create space for newer models.

Best Months to Purchase a Used Car

Other than December, there are also other months that have proven viable for purchasing a used car.

According to data, January and February are good months to make a purchase move. January records 22% more deals on average while February gets 13% more deals on average.

However, you should avoid scouting for used car during the months of June and July. These months record a 17% and 16% fewer deals on average respectively. Worse, 4th of July records 19% fewer deals on average, making the worst time to purchase a used car.

 Buying a used car is as important as purchasing a new car. It is a great investment that should not be done without due consideration. Make sure that you are adequately prepared and make your purchase in times when used car dealerships are inclined to lower their prices.

Don’t forget to take a long your personal auto advisor providing you with information to make a great decision, check out www.wyzedryver.com for more information