Ask any professional car dealer “what is the best month to buy a used car?”, and the response will usually be December. It is fairly well-known that manufacturers will offer end-of-year incentives to bolster sales. It is less well-known that there are extra incentives to bring down the price of most new cars in the month of August. Hence, the best month to buy a used car is typically in August.
What is the best month to buy a used car?
Typically, because of seasonality and model-year changeovers, the end of summer is the best time to buy a new car. Dealers are trying to clear out their aging inventory to make room for the next model year. With such a large volume of vehicles crossing showroom floors, dealers can offer a great deal of price flexibility, so if you need a direct answer to the question – what is the best month to buy a used car, then August would be the correct response.
Consumers who have been holding out wondering what is the best month to buy a used car will find better pricing for large SUVs and they will also see their best opportunities for savings in this month, thanks to historically high incentives, great discounts, and large price drops in the month of August.
In fact, dealers help clients buy and lease almost as many vehicles in August as they do in December. Why would this be? From model year-end deals to back-to-school shopping; here are a few reasons why:
Besides the fact that there are great deals on cars that one can avail of at this time of the year, parents may decide to invest in a safe, reliable vehicle for their teenage driver or their college-bound offspring. Top priorities can also include fuel economy, hands-free texting, and crash avoidance systems.
For many parents, back to school means back to carpool duty and soccer practice. As kids get bigger, it can make sense to invest in a larger vehicle that will fit them comfortably. Often a vehicle with a third row of seats can make a lot of sense for growing families.
Either way, what is the best month to buy a used car, in this case? The answer would be late winter or early August. Luckily it is also a time when manufacturers and dealerships can be motivated by the model year-end change, to move their existing inventory.
While the new model year traditionally starts in October, many brands release new models throughout the year. By late summer, manufacturers are ready to clear out their 2019 models in advance of the 2020 arrivals – and are willing to offer discounts and incentives on 2019 vehicles to make this happen. Buying or leasing in August allows you to take advantage of these specials while there is still decent availability of popular 2019 models.
New model availability
The majority of the new 2020 models are not in dealerships by August, but the window for special orders is often open. If you have your heart set on being the first on the block to drive the latest model, placing your order in August can be critical to making that happen. Special ordering allows you to customize your new car exactly the way you want, choosing the colors and options you want without paying for additional features you do not need.
Now that you have a better idea of what is the best month to buy a used car; you must head on over to Car Factory or visit one of our Miami, Hollywood, or West Palm Beach locations. We can help you find the car of your dreams, within your budget! Give us a call at 786-406-6234 for any enquiries!
Recommended Read: 6 Mistakes to Avoid When Buying a Used Car- Car Factory