Used Auto Buying: When Is The Best Time to Buy a Used Auto?
You should spend weeks or even months conducting used auto research before you think about setting foot on the lot of a dealer that sells used autos. There is absolutely nothing wrong with waiting until you feel confident in your used auto research to buy a auto, and in most cases the extra time will allow you to collect your thoughts, find a few comparable used autos, and make a smart decision on the used auto you buy.
However, sometimes the trick to finding the best price on used autos is much more simple than reading over a lot of used auto reviews and consumer advice columns. Sometimes the only thing standing between you and a great deal is just the timing!
End of Day and End of Month Effect
There is plenty of used auto advice circulating around the internet about what may and may not be the best times of the year to buy a auto. While some of this consumer advice doesn’t really hold its water when you examine it closely, there are some strategies that can’t be denied by any amount of used auto research. Talk to any friend or relative that has even worked in the auto industry, and they will tell you that the salesmen on the average used auto lot are working toward their commission and their bonuses, and when the deadline is coming up, they work even harder. The normal auto dealership is the busiest on the weekends and Mondays. For this reason, many auto dealerships are open later on the weekends and Monday nights. This means that the salesmen are already anticipating a large increase in traffic on these days. Many dealerships hold contests for salespeople during these times, making them even more eager to close the deal. In addition, many auto dealers have specific monthly sales goals. So consider heading to the auto dealer in the early evening, on the last Saturday or Sunday of the month. This is the time when auto sales people are willing to be most flexible.
Moving to the Next Model Year
Another important time of the year for taking note of used auto inventory is the end of the model year. This will usually happen in late summer as the new auto model year is coming up and those autos are starting to come off the assembly line. The salespeople will have to make room for these new autos, so the start making great deals on used autos to get them off the lot. Right at the beginning of the year, a used autos depreciation kicks in and decreases it’s value, so if you have identified a specific used auto, and can wait, it’s better to buy in January than in December to get this lower cost.
When in doubt, always shoot to buy your Auto closer to the end of the month as Auto dealers become more flexible in order to hit monthly targets.