“The best days to visit a car dealership are usually weekdays, particularly early in the week,” said Nick Musica of Cash For Your Junk Car. “Mondays and Tuesdays tend to be less busy as many people are occupied with work and other weekday commitments.
Weekends are typically the busiest time at a dealership. The salesperson might be juggling multiple customers, and the finance office is likely to be a bottleneck. But if you show up on a Monday or Tuesday, there will be less foot traffic. You can ask plenty of questions and the transaction should take far less time.
Mondays. Weekends are usually the busiest times on dealer lots, while days early in the week are typically much quieter. You'll have more time to get your questions answered and take test drives, as well as more time to negotiate the sale.
Monday is usually the best day of the week to buy a car. This is when showrooms will be the least busy, which means you'll likely get more time and attention from the sales staff and have more time to go on test-drives. Edmunds suggests Tuesday is a better option than Monday if the car dealership is closed on Sunday.
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What month are the least cars sold?
In the United States, car dealers experience the most difficulty in selling inventory during the winter months, particularly in January, February, and into early March. As the weather improves and people receive their tax refunds, car sales increase during the spring months.
On the other hand, December scores highly on both frequency and size of discounts — it's the month with the highest average discount and third highest frequency of deals — making it your best bet overall to find a good deal.
The biggest bonuses come at the end of each quarter, though sales are tracked through the whole year. In March, June, September and December – the start of each quarter – dealers won't have as much pressure to meet these targets.
The poll of Used Car Dealers Association members found that 34% of used car dealers reported price decreases compared with the first half of 2022, while 44% said they saw prices increase. Less than a quarter (25%) of used car prices were stable year-over-year in the first half of 2023, according to the poll.
Sell well before a new model year debuts: The moment the next year's model hits the dealership; your car becomes one year older. That usually happens in the fall, so the earlier in the year you can sell your car, the better your sale price may be.
Some of the worst months for buying used cars are late spring and early summer. Lang said May through August specifically are among the worst months for used-car shoppers looking for deals. “It is likely that consumers will wait for the next model year, which will be released in late summer or early fall,” Lang said.
This is why Edmunds recommends a 60-month auto loan if you can manage it. A longer loan may have a more palatable monthly payment, but it comes with a number of drawbacks, as we'll discuss later. The trend is actually worse for used car loans, where just over 80% of used car loan terms were over 60 months.
The post-pandemic economy has seen interest rates rise significantly, which has slowed all vehicle sales — not just EVs. But, as they tend to be more expensive than an equivalent combustion vehicle, EVs are feeling the pinch extremely hard.
A report from UBS estimates that global car production will exceed sales by 6% this year, leaving an excess of 5 million vehicles that will require price cuts to get sold off of lots, Yahoo Finance reported. Those price cuts could be coming in this back half of 2023, and automakers are preparing for a price war.
High demand, a steep decline in supply, fewer lease returns and the impact of pandemic-related manufacturing challenges are still being felt in the market. As a result, “the used-vehicle market is expected to remain competitive with the tandem of reduced volume and high demand keeping prices elevated,” Akyurek said.
The used car market is still experiencing a shortage of vehicles even as the automotive sector recovers from supply chain woes that have plagued the industry since the onset of the COVID-19 pandemic.
As a rule of thumb, some of the best and most predictable discounts on new cars happen during, and just before, the two months of each year when a new registration plate is launched. For used cars, the golden periods are in the following months.
Whilst used car valuations are falling (used prices fell by 2% in August 2023) there are no signs of an impending 'price crash'. This has led to many people pondering the question, “When will car prices drop?” In this guide, we will analyse the current market trends for car prices.
For those looking to buy used cars, the market is expecting to see a 10-20% drop in prices which makes 2023 the perfect year to buy a used car in impeccable condition. Below, we have highlighted the biggest opportunities 2023 will bring for you to purchase your car.
'Used car prices in 2024 are likely to see a return to pre-pandemic depreciation with gentle monthly downward movements,' he said. He's not as bullish as others and thinks the cost of living crisis – especially interest rate rises – will hit consumers' wallets hard and consequently their desire to change their car.
For used cars, the last four months of the year tends to be the best time to buy. That means December is an excellent time to buy, but the best used car deals might be running out soon. Here's why December is the perfect time to buy a used car and why you should act now if you want a great deal.
Summer usually witnesses an uptick in sports car and convertible sales, while fall and winter see increased demand for SUVs and 4X4s. Timing your sale to align with these trends could result in a profitable deal. Generally, late spring and summer are considered good times to sell most used cars.
