Deals are decent right now, but hold on a little longer and you're likely to find dealers will be a lot more flexible
Cars in the holiday ads are often envisioned with gigantic red bows – an image new car dealerships love to promote. But if you're shopping on a budget, finding a deal on a used car should be a good bit easier in the months to come. And, come January, you could save even more.
A new report from iSeeCars.com lists the best time of the year to shop for a used car. And while we're not quite there yet, people who need a new ride should still be able to get a discount.
If you really want to save, though, hold off until mid-January. The report says MLK Day is the best time to buy a used car, with 65.5% more deals than average. (A good deal, for the purposes of this study, is a savings of 10% – or $2,689 – off the average price of a used car, which is $26,889.)
New Year's Eve and New Year's Day come in second with 58.6% more deals.
“Consumers struggling to find a good deal on a used vehicle will have far more opportunities in the colder months,” said iSeeCars executive analyst Karl Brauer. “In general, used car prices follow the average temperature, with both falling between November and March and bottoming out between December 31 and February 28.”
The worst time to buy? That would be June, which has 22.8% fewer deals than average. July 4th isn't much better, with 22.4% fewer deals.
Here's the complete list of the best times to buy:
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