Best Times to Buy Used Cars

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When is the Best Time to Buy a Used Car?

Best Times to Buy Used Cars

If your used car purchase is not planned for the immediate future, you may be able to wait and watch the market for a while. Here are some times to pay close attention to used car sales so you'll know when it is time to jump in the used car market.

  • Often, holidays are good times to buy. We've all seen the commercials around President's Day or July 4.
  • End of the year: Many times, used car dealers are trying to move inventory quickly to make room for new models.
  • Market shifts or downturns that lead to sluggish used car sales: Buyers may benefit from over ordering or slow sales that force dealers to reduce prices to make quotas.
  • End of the month: Again, quotas may be a buyer's friend. Dealers may drop prices to make a few more deals before the month is over.

Timing Isn't Only About the Used Car Dealer
In addition to timing your purchase for the best deal, you may also time your purchase to coincide with credit score increases. As you know, credit scores impact the rate of interest for your used car financing. Even small increases of 50 points or so may save you thousands over the life of the loan.

   

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