Most people would agree that buying a used vehicle is preferable to purchasing something brand new. There are many reasons for that. Not only do new cars lose a significant amount of value the moment you drive them off the forecourt, but they’re also incredibly expensive to buy in the first place. It makes more sense to avoid all that debt and get something reliable from a second-hand dealer. However, we wanted to find out if now is the best time to get involved. Could you save money by waiting a few months? Will you find increased choice if you simply hang on a while. Let’s take a look at the facts.
Car sales are slow during the first couple of months of the year
The fact that car sales often slump during the first few months of the year means that dealers are more likely to reduce prices and negotiate. When the market is thriving, they have no incentive to give you a good deal. They know you’re not going to get cheaper prices elsewhere, so it doesn’t make good business sense to let you knock them down. So, purchasing between January and April is usually a wise move. Just make sure that you take the time to look at multiple sites. The Smith Chevrolet car dealership and other like it should be at the top of your list. You need to ensure you are dealing with professionals who are not going to pull the wool over your eyes.
More people sell their old cars at the start of the year
With more people needing extra money at the start of the year, it makes sense that many of them choose to sell their old vehicles. Most people will simply hand them over to second-hand specialists because it is much easier than selling privately. With that in mind, it should come as no surprise that you will encounter a wider selection of vehicles if you choose to take a look at the market before May. Even so, it’s still important to cover all the bases. Some sellers will still try to avoid presenting negative information about any vehicle you might be viewing.
The economy is less stable during the first half of the year
When the economy is less than perfect, people refrain from making significant purchases. That is because they are worried about their financial situation. As fewer drivers decide to spend money on a new car, you will be in a better position if you purchase during poor economic periods. We are currently in the middle of one such time. Again, sellers will be more inclined to negotiate on price if they don’t think other buyers will along any time soon. Once the economy begins to get a little better, more people will go out and visit local dealerships. When that happens, you will struggle to get a good deal.
To answer the question posed in the title of this post, yes, now is a fantastic time to purchase a used car. If you wait too long, prices will rise, and the amount of choice on offer will decrease. So, act fast to ensure you don’t pay over the odds for a less than ideal vehicle.