best and worst times to buy a used car

2016 12 05 Bestandworst Usedcars V2

If you're in the market for a used car and missed the Black Friday deals, you've got a few more chances in December, according to iseecars.com. In fact, the whole month of December ranks 8th in terms of best times to buy, with a 23.5 percent more deals than average. Only November ranks higher for best month at 26.9 percent, with January coming in third at 16.4 percent.

But if we look at December, the specific days (and their ranks) you want to consider are:
6. Christmas Eve (28.7 percent)
9. Christmas Day (21.4 percent)
10. New Year's Eve (21.3)

If you wait until New Year's Day, you can still get a good deal, but the percentage drops to 15.8.

Weekend Versus Weekend
Now, if holiday shopping isn't your thing, and you're wondering which day of the week you should go, Monday through Thursday has a slight advantage on deals versus Friday through Sunday, but only by 1.2 percent more than average.

Beginning Versus End of Month
What about the whole end of the month versus beginning of the month debate? AutoTrader.com has a theory that you can get a better deal at the end of any time frame: end of the day, end of the month, end of the quarter, end of the vehicle model's debut year, etc. However, iseecars.com's research found that you can get an 8.5 percent better than average deal at the beginning of the month compared to the 5.6 percent better than average deal at the end.

Really, both can be correct, depending on what the dealer calls "end of month." At iseecars.com, they mention dealers usually end their month's sales period a few days into the next month, making the 5th of the month the worst day for a deal.

Best and Worst Summary
All numbers aside, here's a quick rundown:

Best Holidays

  1. Black Friday
  2. Veterans Day
  3. Thanksgiving


Worst Holidays

  1. 4th of July
  2. Mother's Day
  3. Easter


Best Months

  1. November
  2. December
  3. January


Worst Months

  1. April
  2. May
  3. June

 

Posted December 5, 2016 in street smarts.

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