When Is the Best Time of the Year to Buy a Used Car?

If you want to stay within your budget and still get a good deal, you need to know the best time of the year to buy a used car. This guide will help.

Did you know that used cars cost 40% more this year than the previous?

Car sales on popular used car models are a great way to get a decent car for cheap. But if you're on the used car market, you'll want to be sure the price won't drop after you buy it. You want the best time of the year to buy a used car so you know you get the best deal possible.

But sometimes the question isn't about price. There are dozens of other reasons that will decide when you buy your vehicle. You could be in a lot of trouble if you're waiting months to get a vehicle.

Look no further. In this guide, we'll discuss all the factors when it comes to purchasing a vehicle. 

Best Time of the Year to Buy a Used Car: Before You Need It

If the used car will serve as a replacement for another vehicle, then the best time to purchase is before the current vehicle craps out. This all depends, of course, on the condition of your current vehicle. It might be in great condition, but you're replacing it for other reasons.

There's no telling what the used car market will be like tomorrow. All those amazing local deals may have vanished. There could be a long time when no good deals surface and you're forced to make do with your current.

Think about the economics here as well. If your current car fails, you'll need a replacement transport option. That could force you to make do with a car that is far below your standards.

You might be forced to get a rental car or burner vehicle. With the price of gas as high as it is, you can't afford a low-efficiency gas-guzzling car. The point is, buy your used car before you can't anymore.

Buy During Your Target Vehicle's Off-Season

Some popular used car models give you superior bargaining power depending on the seasons. For example, a convertible is not very desirable in the winter. Since it can't pop the hood, you could haggle for a lower price in the winter months.

On the other hand, someone might be in search of a vehicle that better suits their needs for an upcoming season. A family with an SUV might want something with improved fuel efficiency while traveling around during the summer months. They might be selling at a loss since they want to get rid of it ASAP.

During Holidays

Holidays are a mixed bag when it comes to selling a vehicle. In some cases, you can get some amazing holiday sales. In other cases, this might be a bad time since sellers are less available.

For example, dealerships are often low-staffed during the holiday season. Even when you buy from a private seller, they will have family obligations that take priority. You might struggle to get in contact and arrange a time for you to look at the vehicle.

However, this is still a good time to nab some deals. Black Friday tends to have consistently good deals. Labor Day and Memorial Day are also good times to look out for deals.

On a Day When the Weather's Good

This is a small tip that makes a big difference. Your primary objective when buying a used car is to make sure it's in good condition. If it's overcast or rainy, you won't have enough light to work with.

You should buy a car when you can see every nook and cranny. If there are scratches, dings, or dents, you want to be aware of them. And good lighting will help you to identify bigger issues, too. 

Clear weather means you can take a better peek under the hood. If it's rainy, it might be hard to spot a busted part.

When You Find CPO Deals

CPO stands for certified pre-owned. It's when a dealership verifies that a used car is in good working condition. These cars even tend to have better mileage than those from a private dealer.

A CPO car allows you to buy with more confidence. When you buy from a stranger, you have to hope they're trustworthy and won't scam you. With a CPO, you have clear documentation that certifies the car and tells you what to expect from it. 

That means you have some recourse if the vehicle breaks down.

Keep alert for CPO deals since they come and go. Ask your local dealership when they might get some new CPO inventory.

End of Year, Quarter, or Month

This is the best advice when it comes to buying from a dealership. Since most dealers have to meet sales quotas, it's in your best interest to go on the days when they're trying to get those last few vehicles off the lot.

Before you visit the dealership, you can take a look online to see what inventory they have. If the inventory is tight, then you might not be able to get the best deal. But if there's inventory that needs to go, then you might have a chance to bargain.

Get Your Used Car Today

The best time of the year to buy a used car depends on what you're looking for. Certain holiday sales and end-of-quarter quotas may give you excellent deals. But sometimes the best months to buy cars are when the models you want are available.

Whatever the case, there's a dealership in your neighborhood with good deals for you. Get in touch with them today and see if they have the popular used car models you were looking for.