When is the best time to buy a used car?

When is the best time to buy a used car?

No matter what discounts or special offers, a brand-new car is going to be expensive. You can also opt for a used vehicle, which will be more affordable. Instead of focusing only on the short-term benefits, it is important to consider how much an investment will return in the long term.

Here are some reasons why you should choose to buy a used car over a new one:

•    Many used cars are housed in lots right next to newer models at a dealership. Professionals inspect the vehicles and make any necessary repairs if needed. If all checks are positive, they are considered “good quality vehicles”. Some vehicles may be as young as 2 years old and have low mileage.

•    New vehicles are worth less once their owners drive them off the lot. You can save quite a lot of money by buying a second-hand vehicle without sacrificing quality.

•    As opposed to buying a new car, you will have to pay less for taxes, insurance, registration, and other costs.

•    Talk to your dealer if you’re able to purchase a vehicle still under warranty. You can usually arrange it. Mega lots often offer good warranty coverage.

Every car sold on the lot comes with a default guarantee. Additional coverage can be purchased for an affordable fee.

What is the best time for a used car to be bought?

Enjoy certain holidays

Holiday weekends are a great time to buy a used vehicle. iSeeCars.com did a study in 2022 to determine the most lucrative holidays for securing deals. You know that dealers must meet their end-of-year sales targets.

Avoid holidays like Mother’s Day and Father’s Day. This time, dealers are less staffed than on a regular day of work. Private sellers focus more on family events than the sale of the family vehicle. There are usually fewer sellers on a given day, which means that prices will be higher. Holiday weekends are a popular time to purchase new cars. There are lots of vehicles returning to dealers for trade-ins and lease returns. Private sellers often try to sell old cars to make it more profitable. Buyers are likely to see car lots filled with vehicles that need refurbishment or shipping for auto auctions right after a weekend sale. Many dealers would like to sell these used cars at deeply discounted prices (which they will likely get in an auction).

Remember to include the month, quarter and year end

Dealerships and car salespeople must meet their sales goals each month, quarter and year. This is often done to help them achieve their highest month yet. Salespeople will work harder to close the sale because their compensation is tied to meeting or exceeding a goal, unlike non commission sales at Stampede Auto where you can find best deals on used cars, trucks, SUVs and another vehicles in Calgary. It is a great way to secure a great deal on a used vehicle. The end of the year is an excellent time to buy a used car. A lower price for the car, a better deal with the car loan and extras such as an extended warranty could be available. There will be more used cars available from lease returns and trade-ins in the weeks following the end of each month, quarter or year. Between the new vehicle rush and when dealers have sent their surplus stock to the auction, the best time to buy is the last day of the month.

Invest in the off-season

The market is quieter in the off-season, but there are still great deals to be had. Convertibles are in high demand during winter. You can take advantage of this opportunity. Sales of four-wheel-drive SUV tend to be higher in the winter months than in the autumn. In spring, fuel prices tend to rise making owners more inclined to sell their SUVs and lowering the price they can get for them.

This strategy won’t work if you shop at national used car dealers. Their inventory is constantly being moved around to keep up with demand and supply. Stampede Auto’s inventory is kept market-priced all year, so no matter when you shop for a car, you will only pay the best prices in Canada.

Deals are the best way to strike gold

Certified pre-owned vehicles (or CPO cars) are frequently available with manufacturer-supported financing incentives. These buyers can get interest rates that are lower than the market average. Despite being the best financing deals, zero percent offers are rare. However, it is difficult to find such deals as the market continues to rise. CPO vehicles can only be found at franchised dealerships. They are typically more expensive than comparable non-certified used cars. These are not the only used cars that you will find in flashy showrooms with automaker-sponsored deals.

Are you familiar with heavily promoted sales at used car dealerships You shouldn’t let these sales fool you. The entertainment value of the dancing inflatables on the lots is often the greatest benefit. Before you buy a car, make sure you know if the car is worth the money and what you can afford. Request the CARFAX vehicle record. This is a great place to start. Stampede Auto premier source for used cars in Calgary allows you to view the past owners and accident history, if any, for free. You can then assess the vehicle’s quality to determine if it is truly a bargain.

Winter is a great time to try your luck

There are certain times of the year when it is easier to buy used cars . It is not fun to drive across the city to test drive a private-party used car. Prices for cars go up in spring because of the high demand. It is a perfect time to buy: New Year’s Day falls during winter holidays and year-end.

Learn more about auto shows in your area

The supply of used cars will rise if there are more people buying new cars in the vicinity. This is especially true during auto shows, when manufacturers and dealers promote new cars and people trade in or sell their older ones. Auto shows can have a ripple effect that lasts several weekends. Buyers visit dealers to test drive their new vehicles, or trade in their existing vehicles.

Wait till new models come out

A spike in sales is common when automakers introduce new or redesigned models. It often occurs when many previous-generation models are leased back or traded in for the new model. In a nutshell: Buying a used model of a newly redesigned model can save you a significant amount of money. Because many buyers are looking for the best technology, the prices of outgoing models will naturally drop, as well as the rates for auto loans.

It is important to have money aside for emergencies. Even if you buy a used car it will not be as affordable as buying groceries or candy. It is a good idea to prepare before you start your car-buying adventure. Spend some time researching the used car that you want to purchase (the model should suit your needs and budget) and reading reviews and rankings. Before you shop, know your credit score.