Best Times To Buy Used Cars

August 20th, 2015 by

As they say ‘strike while the iron is hot’ if you want the optimum results.

If you can strike while the iron is hot when it comes to buying a used or certified pre-owned car, it could mean saving hundreds of dollars.

So, how to find out when the proverbial iron is hot?  Below are some tips and time savers that will help you figure out when is the best time to visit your used car dealership in Lexington, KY.  

Always Be Looking

Put that coffee down and start looking at used vehicles.  Get familiar with the price range you have given yourself.  What are the models and years that are most dominant in your price range?

Did you have a different vehicle in mind?  Familiarize yourself with prices and watch how one location, time and season differs can affect it.  

Before Auction

As a general rule of thumb, dealers only like cars to stay on their lots on average for 60-90 days after which they are likely to go to auction.  Before that, dealers will usually try to sell the car as a last ditch effort.

Because they would rather make a profit off selling the car to you rather than bringing it to auction, they will be willing to lower the price. If you are aware of a car you want on a specific lot and can watch hold out till the price is lowered on that model, it’ll be a win for you.

However, that is a gamble because someone could always come along and buy it first.  

End of Month

As you’ve heard before, the end of the month is always the best time to go to a dealership for lowest prices.  Generally, this is true.  Quotas do have to be filled and sales are more likely to occur then.  

Be warned though, that going to a dealership on a busy weekend at the end of the month may not yield the best results.  Should you have the choice to wait until a Monday, Tuesday or Wednesday at the end of the month, the dealership will be less busy and more willing to do what it takes to put you in the vehicle you want.  

Time of Year

Following trends, you’ve noticed that end of the month are the best days to purchase a used vehicle.  Likewise, the last months of the year are going to offer the lowest prices.  

While summer months are good for car sales, as they’re the weather is so optimum, starting in July, you’ll see the prices start to lower another 5% by the end of the year.  If you find you can hold out till late fall for the model you want, it would be best.

Just always make sure you have done your research and learned the value of your vehicle.