Did You Know: Christmas is a Good Time to Purchase Used Vehicles

close up of father and daughter with gift boxThe month of December isn’t just ideal for snagging deals on candy canes and snow shovels. Christmastime is actually one of the best times to purchase used vehicles. If the thought of replacing your current car has been on the back-burner, you may want to push it to the top of the list. Buy a used car now versus in the spring, and you could save some serious cash.

This is all according to a study done by the automotive website CarGurus. The demand for cars is lower during the holiday season. The lots are cold and most people are preoccupied with baking cookies, sipping eggnog and wrapping gifts. Thanks to this detail, the price drop. According to the study by CarGurus, car prices hit their lowest average between Thanksgiving and the first week in January. Come the New Year and the era of resolutions, prices rise apace.

So, if a new-to-you car lies in your near future, your smartest move is to buy now. And shop used. Used cars are already a great deal because of the amount of value you can get at a much lower price than new. Add to that the fact that prices are lower than ever this month, and you’ve got a deal even the Grinch couldn’t refuse.

December Car Sales Make it the Best Month to Buy

December Car Sales

2015 is drawing to a close as we move into the last month of the year, and people are in the midst of spending lots of money on a variety of different things in preparation for holiday festivities. However, the end of the year is also a great time to buy cars, as dealerships are knocking down prices to clear the outgoing models from their lots and in the hopes of fitting in as many sales as possible before the New Year begins. December car sales make right now one of the best times of the year to buy a new car.

The year-end sales rush causes many manufacturers to dramatically slash sticker prices by the thousands with the intent of clearing inventory of outdated products and ushering in the new. 2016 models that have already launched may also see impressive deals as dealerships try to attract buyers to updated models. However, demand around this time of year also falls drastically, so even used car dealerships will offer great deals in an attempt to bolster sales as fewer people are looking for new vehicles during the holiday season.

Though December car sales may attract you, keep in mind, too, that dealerships operate on what is known as the US Sales Reporting Calendar. This calendar, unlike the public one, ends on January 4th as opposed to New Year’s, so buyers may find even better deals during the first few days of January when car dealerships are fitting in a few extra sales before the Sales Reporting Calendar ends.