Today, I want to talk to you about when the best time to buy a used car is, a lot of that’s going to depend upon what you are trying to buy and the time of year. For instance if you are trying to buy a truck and you needed a 4×4 truck for winter, just before winter is not going to be the best time for you to buy and expect to negotiate a great price. Now I’m not saying that it’s impossible just that you are going to have the whole supply and demand factor to deal with when you are drained by that type of vehicle just before winter you are going to have a much better chance of getting the price that you want for a 4×4 in the spring and summer months when demand for four-by-fours is much lower.
Length of Time That a Vehicle has Been on a Dealer’s Lot
The length of time that a vehicle has been on a dealer’s lot is something the dealer is also going to have to take in consideration when making a deal. When a vehicle has been on a dealer’s lot for more than 60 to 90 days, it’s time for the dealer to start thinking about reducing its asking price or they are going to run the risk of taking a loss when they have to sell it at the auto auction. You see, the dealers don’t actually own all the vehicles that you see on their lot the banks do and they pay the bank a small percentage for each month to sell their vehicles called a floor plan charge and if the dealer doesn’t sell the vehicle after 90 days the dealer even has to pay more for the vehicle because now they actually own it and they never want to own it they would actually rather sell it to you at a deep discount and move it off their lot rather than risk taking a loss plus fees trying to sell it at the auction.
Know the history of your car
Now, there is a way you can find out how long a vehicle has been on a dealer’s lot without having to ask and here’s how. Now hopefully the car that you are looking at comes with a carfax report but if it doesn’t you can always ask the dealer for one but down below in the detailed history section of the report it’s going to show you when the dealer offer the vehicle for sale on their lot but I think with some good negotiating they would make you a great deal on that vehicle, once you think you found the right vehicle and done all your homework and you’re ready to make an offer.
Another good time to buy a used car is weekdays; Monday through Friday are going to be the best days to buy because they are typically the slowest days of the week for the dealer. Try to avoid the weekends because the weekends are the busiest time of the weekend and they’ll be working so many deals that they may not be as hungry as they would be during the week to make you that sweet deal that you’re looking for. The only exception to the weekend rule is if the weekend falls on the last three days of the month. Speaking of the end of the month, the last three days of the month are generally the best days to buy a used car because every dealer has sales quotas and goals that they want to meet by the end of the month. The salesman and the desk manager also has sales goals and quotas that they want to meet because it affects their paychecks and their bonuses in a huge way, so by using this strategy it gives the salesman and the desk manager more financial incentive to help you get that great deal that you’re after.
So hopefully these tips and strategies have helped to get a better idea and understanding of when the best times to buy a used car is.