When is the Best Time to Buy a Used Car?

If you’re in a position where you can wait for the most bargain-friendly time to begin shopping for a used vehicle — it’s worth marking in your calendar when dealerships offer advantages for buyers. Knowing the best time to buy a used car could end up saving you hundreds, if not thousands, of dollars when you sign the dotted line. 

Continue reading to learn about the best time to buy a used car so you can get the most bang for your buck. 

Why Buy Used from a Dealership vs a Private Seller?

When making the decision to buy a used car, you first have to determine whether you’ll buy from a car dealership or private seller. While everyone has their own opinion when it comes to this matter, there are definitely pros and cons for both. 

When you buy a used car from a certified dealership, you’ll be able to look at more options, have financing benefits, and know that any vehicle you look at has been thoroughly inspected and repaired. Additionally, you can have peace of mind knowing you’re buying from a reputable dealer, rather than a private seller that has no reputation to lose. 

On the other hand, opting to buy from a private seller comes with increased risk. Many things get left up to chance when you buy from a private seller, such as the vehicle needing costly repairs due to lack of inspection. When dealing with a private seller, you are likely to find a fair price, but not necessarily a reliable car. 

The Best Times to Buy a Used Car 

Dealerships often have days in their calendar where they will offer money-saving deals for buyers. Let’s take a look at the best times to buy a used car:

1. Weekdays

Weekdays are a great time that you can go to a dealership and browse the car lot with ease. Typically, the weekends are when dealerships are the most busy, so Monday through Friday provides a great time to look through pre-owned inventory. You’ll also have more time to ask all the questions you need, test drive and negotiate a sale. 

2. End of the Month or Calendar Year

Dealerships will have sales quotas they aim to meet each at the end of month and calendar year. Because compensation is often tied to sales goals, your salesperson will be more likely to offer discounts and incentives during this time. Additionally, during the end of the month or year, there will likely be more used inventory on the lot due to people selling back their older models, so you’ll have more pre-owned options to browse through. 

Although there will likely be deals at the end of any month, the best months to buy a used car from a dealership are the end of quarter months:

• March 31st (last day of Q1)
• June 30th (last day of Q2)
• September 30th (last day of Q3)
• December 31st (last day of Q4 and NYE)

3. Holiday Weekends 

Holiday weekends provide the perfect opportunity for dealerships to offer special sales and incentives. Holidays such as Black Friday, Veterans Day, and New Years Eve are some of the best ones to find a great deal. Additionally, during these times many dealerships will offer buy-back incentives, so there will be even more inventory for you to browse. However, since the holiday incentives will bring a lot of foot traffic to the dealership, it’s best you do your research online prior to visiting the dealership.

4. When Newer Models are Released

Post new model release provides the best time to buy a used car. Traditionally, new models for cars are released in the fall of the previous year. For example, a 2023 vehicle will debut in fall of 2022. Ideally, dealers want the previous model gone before the new one arrives, so dealers will offer heavy discounts on the older used model to try and get it sold. Though you may not have the latest model with all of the updated features, you’ll end up saving a good amount of money. 

5. During Dealership Specific Sales

Throughout the year, dealerships will offer incentives to try and get more cars off the lot. Take advantage of these sales! Often, you will be able to find the pre-owned car of your dreams at a price that can’t be beat. Some dealerships will even extend sales for as long as a few months, so if you’re able to, it’s worth it to take advantage of these sales incentives. 

Buy Your Next Used Car at M&L

Because M&L offers fair prices on all cars regardless of the time of year, you get to choose when it’s the best time to buy a used car. Thankfully, we have plenty of pre-owned options for you to choose from. Use the button below to contact our dealership so we can get you into your new ride!