If you’re thinking about getting a new car and you want to save the most money, buying two to three years old is your best bet. When you buy a car at this age, you’ll get a price of about half what it was sold new, and the car will still have 80% of its life left — making it a very Clark Smart move!
But when it comes to other savings strategies, are there certain days of the year when you can get the best deal on a used car? According to iSeeCars.com, the answer is definitely yes.
Read more: Avoid the #1 mistake that car buyers make
Best day of the year to get a used car
iSeeCars.com analyzed over 40 million used car sales between 2013 and 2015, and discovered which days you can get the best deal when shopping for a used car. A deal was defined as a price at least 5% less than the original ticketed price.
CEO of iSeeCars.com Phong Ly said, ‘It’s always nice to save money, and when you are buying something as expensive as a car, saving even 5% of your purchase, or $952 off the average price of $19,040, can really add up.’
According to iSeeCars.com, the absolute best day to buy a used car was none other than Black Friday — with 33.1% more deals than normal. This was followed by Veterans Day at 32.5% and Thanksgiving Day at 30.6% more deals, for dealership that are open, as reported by Today.com.
Additionally, iSeeCars.com did research on the best month, best time of month and the best day of the week to buy a car.
The best month was November, followed by December, while the best deals during the month were offered the first day of the month. That’s because car sales cycles operate differently than calendar months, and the most deals happen as car retailers are trying to get in every last sale before the sales period ends. The sales cycle begins on the 5th of each month, the worst day for used car deals.
Mr. Ly believes this year will be huge when it comes to used car sales. ‘With over three million cars expected to come off-lease this year, the used car inventory will grow, making it ripe for dealers anxious to move the cars off their lots,’ he said.
Read more: Best used cars under $10,000 and $15,000