Want to buy a used car but aren’t sure where to start? Don’t worry; these ideas and tips can assist you in getting started on the right track at the right moment.
Auto experts often say late December to early January is the best time of the year to buy a used car. During this period, dealers are more eager than ever to unload cars with the current year’s date, so they aren’t trapped trying to sell a 2021 model year car in 2022.
It’s also the time of year when many dealers are looking to boost their sales. Many car manufacturers reward dealers for exceeding annual sales targets around this time of the year. As a result, dealers are motivated to make a deal even if the car barely breaks even since it will help them earn that end-of-year prize.
Unfortunately, we haven’t had an ordinary year in a while. Since late spring, new car prices have risen to new highs regularly. In November, the average new car sales price had risen to more than $45,300, up $5,000 from a year before.
This has pushed some would-be new car buyers into the used car market. Meanwhile, the cost of a used car has risen faster than the cost of a new car. The average price of a used car is currently around $27,500!
Fortunately, there are still several ways in which you could find a good deal on a used car. Follow these tips to grab some of the best deals on a used car right now.
Buy a used car strategically
Before making a large purchase like a car, it’s usually a good idea to shop around. Start looking at possible used cars you’d like to buy right now. Automobile manufacturers begin releasing the following year’s models right around December, so you’ll likely see newer used cars sold at a lower price at dealerships. Not only that, but dealers often have yearly sales goals to meet. Hence, buying a used car near the end of the year can provide you with an advantage in saving money.
Read: Cars with the most expensive insurance rates listed
Try to avoid buying a used car in the spring
When the weather warms up, many people who wouldn’t have gone out in the cold to seek a car in January suddenly find themselves in the market for one. The warm spring weather also sparks daydreams of drifting down the highway with the windows down. If you’re ready to suffer some colder weather earlier in the year, you might be able to get a better deal from dealerships looking to fill inventory during the slower winter months.
Pay a visit to the used car dealership early in the week
Used car lots and dealerships are often less busy on Mondays and Tuesdays, so this is a good time to visit and ask salespeople any questions you may have about their inventory.
Read: Top car accessories for 2022
Visit the dealership when the sun is shining
Start your search for a used car on a bright, sunny day. When the light is shining brightly, you can see everything about a car more clearly, making it easier to discover flaws in the body or inside. Scratches and small dents are harder to see when it’s raining or gloomy.
Look for bargains throughout the holidays
For major holiday weekends, auto dealers frequently prepare big promotions. Make sure to look into all of the seasonal discounts available.
Read: 7 things to look out for when buying a used car
Start your search way before you truly require a new car
If your existing car is starting to show its age, do some research to find what you might need and want in a replacement. If you can easily walk away from something you want, it can provide you with bargaining power. In contrast, if you truly need a car right now, you’re more likely to accept a deal that you’re not totally satisfied with. If you start planning ahead of time, you’ll be able to organize your finances better. It’s preferable to be well-prepared than to be caught off guard.
Buy car insurance for a used car using Way.com
Car insurance is a legal requirement in 49 of America’s 50 states. When buying a used car, make sure you get adequate coverage to stay protected at all times. Sadly, car insurance can get expensive if you are not careful.
Read: Best used cars with cheap insurance: Our top picks
However, Way.com can help you find affordable car insurance quotes that fit your needs in under 10 minutes! Tap the banner below, enter your zip code, and access several quotes from the best car insurance companies using our app. What’s more, we do not require sensitive data such as your credit score or social security number to obtain free quotes.
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