Automotive & VehiclesBuying & Selling GuidesTips for Choosing a New or Used Car

Best Times of Year to Buy a New or Used Car

When it comes to buying a car, timing can make a significant difference in the deals you can get. Whether you’re in the market for a new or used car, understanding the best times to make your purchase can help you save money and get the most value for your budget. In this article, we’ll explore the seasonal buying tips and end-of-year sales that can help you make the right decision for your car purchase.

Key Takeaways:

  • The best times to buy a used car are the last four months of the year when new car models roll into dealerships and dealers are eager to meet year-end sales goals.
  • Avoid buying a used car between May and August and during the period from Presidents Day to Memorial Day when prices tend to be higher.
  • If you’re planning to sell your car, consider doing so just after Labor Day, when average listing prices for used vehicles are higher and the number of available listings is lower.
  • For buying a new car, the end of the month, the last three months of the year, and holidays like Christmas Eve and Black Friday can offer significant savings.
  • Timing your car purchase around model-year changeovers can also lead to savings, as dealers work to clear out older stock to make room for the latest models.

The Best Times to Sell a Car

If you’re planning to sell your car, there are also optimal times to do so. Traditionally, April has been considered the best time to sell a car. However, according to CarGurus, the best time to sell or trade in a car is now just after Labor Day. During this period, average listing prices for used vehicles are higher compared to the average week, and the number of available listings is lower. This combination of factors allows sellers to get top dollar for their cars.

It’s important to gather the necessary paperwork, such as the car title, odometer reading, maintenance records, vehicle history report, warranty information, emissions report, and bill of sale, to facilitate a smooth selling process.

Additionally, CarGurus recommends buying a used car in mid-February, which aligns with traditional Presidents Day deals and can save buyers around 2.8% compared to an average week.

Month Average Listing Price (Used Vehicles)
January $16,500
February $16,700
March $16,800
April $16,900
May $16,800

Expert Insight:

“Selling your car just after Labor Day can be a strategic move to maximize your profit. With higher prices and lower competition in the market, you have a better chance of getting a great deal.” – CarGurus

Tips for Timing Your Car Purchase

Timing your car purchase can greatly impact the deals you can get. When it comes to buying a new car, the end of the month is often advantageous, as salespeople are looking to meet their monthly sales quotas and may be willing to negotiate on price or offer other incentives.

The last three months of the calendar year, particularly October, November, and December, are also good times to buy a new car. Dealerships feel pressure to meet year-end quotas and often offer discounts, making it an ideal opportunity for seasonal buying tips and accessing seasonal discounts.

Additonally, holidays like Christmas Eve, New Year’s Eve, Presidents’ Day, the Fourth of July, Labor Day, Memorial Day, and Black Friday are known for offering good new-car savings. End-of-year sales during these holidays can help you find the best buying times to maximize your savings.

On the other hand, for used car purchases, January, February, and December are the top months for sales. Trade-ins tend to increase after new-car purchases during the holiday season, presenting an opportunity for buyers to access seasonal discounts. Martin Luther King Day and Presidents’ Day can offer even more deals on used cars.

It’s important to note that timing your purchase around model-year changeovers can also lead to savings. Dealers work to clear out older stock to make room for the latest models, providing an opportunity for shoppers to take advantage of seasonal buying tips and find the best buying times to get the car they want at a discounted price.

FAQ

When is the best time of year to buy a new or used car?

The best times to buy a used car are often the last four months of the year when dealerships are receiving next year’s models and are interested in trading in their current vehicles. Year-end sales goals for both new and used cars may also lead to lower prices during this period. On the other hand, the worst times to buy a used car are typically between May and August when consumers wait for the release of the next model year, resulting in lower supply and higher prices.

When is the best time of year to sell a car?

The best time to sell or trade in a car is just after Labor Day when average listing prices for used vehicles are higher compared to the average week. This period also sees a lower number of available listings, allowing sellers to get top dollar for their cars. Traditionally, April has been considered the best time to sell a car, but the period after Labor Day has shown higher prices.

Are there specific months or holidays that offer better deals for car purchases?

The end of the month is often advantageous for buying a new car as salespeople are looking to meet their monthly sales quotas and may be more willing to negotiate on price or offer incentives. The last three months of the year, particularly October, November, and December, are also good times to buy a new car, as dealerships feel pressure to meet year-end quotas and often offer discounts. Holidays like Christmas Eve, New Year’s Eve, Presidents’ Day, the Fourth of July, Labor Day, Memorial Day, and Black Friday are known for offering good new-car savings. For used car purchases, January, February, and December are the top months for sales as trade-ins tend to increase after new-car purchases during the holiday season. Martin Luther King Day and Presidents’ Day can offer even more deals on used cars. Timing your purchase around model-year changeovers can also lead to savings, as dealers work to clear out older stock to make room for the latest models.

What documents should I gather when selling a car?

When selling a car, it’s important to gather necessary paperwork such as the car title, odometer reading, maintenance records, vehicle history report, warranty information, emissions report, and bill of sale. Having these documents ready can facilitate a smooth selling process and provide buyers with the necessary information about the car.

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Meir Avraham

Meir Abraham is a seasoned web developer and community mentor, born in the 1980s, with a passion for empowering others through knowledge and technology. With years of experience under his belt, Meir has dedicated himself to creating platforms that serve as a beacon for those seeking guidance and learning opportunities. His journey into the world of web development and community service began from a young age, fueled by a curiosity about the digital world and a desire to make a tangible impact on the lives of others. As the mastermind behind Press.Zone and RESITE.PRO, Meir has successfully blended his technical prowess with his commitment to community service. Press.Zone stands out as a groundbreaking platform designed to disseminate valuable guides and insights, covering a wide range of topics that Meir has mastered and encountered throughout his life. Similarly, ReSite.Pro showcases his expertise in web development, offering bespoke website solutions that cater to the unique needs of his clients, thus enabling them to achieve their digital aspirations. Not one to rest on his laurels, Meir continually seeks to expand his knowledge and skills. He is an advocate for continuous learning and personal growth, qualities that have endeared him to many in his community and beyond. His approach to web development and community engagement is holistic, focusing on creating user-friendly, accessible, and impactful websites that not only meet but exceed client expectations. Meir's commitment to helping others is not just professional but deeply personal. He believes in the power of technology to transform lives and is dedicated to making that a reality for as many people as possible. Through his work, Meir aims to inspire others to pursue their passions, embrace lifelong learning, and make a positive impact in their communities. In a world where technology is constantly evolving, Meir Abraham stands out as a beacon of innovation, mentorship, and community service. He is not just a web developer; he is a visionary dedicated to using his skills and knowledge to make the world a better place, one website, and one guide at a time.

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