The 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.
The essential question for car consumers is whether or not to buy new or used. Certainly, there are obvious pro’s and cons to both. Here are five reasons you should consider buying a used car according to the Used Car Dealers Association.
New cars drop value as soon as they are driven off the lot. Studies have shown that three- to five-year-old vehicles have already experienced the greatest percentage of their depreciation. With the current economy, used vehicles offer consumers the chance to save thousands of dollars or even affordably upgrade to a better class of vehicle.
A properly maintained used vehicle with service records is helpful, because any defects that might go unnoticed in a new car will have already revealed themselves and been corrected in a used car.
It’s an undisputed fact that today’s vehicles are truly built to last, unlike vehicles of 25 years ago. It’s quite reasonable to expect, with proper maintenance, a vehicle to serve reliably after 180,000 miles or more.
People like used cars because they can see them, sit in them, try the options and drive them, which you can’t do when ordering a new car from a photo or option description. People like to see and touch what they are buying.
Perhaps a more costly aspect than maintenance for some vehicles is the cost to insure them for the road. Used vehicles can be less expensive to insure.
It is important to carefully and extensively research used cars. Ask the dealer for a vehicle history report. Also, It can be beneficial to have your own mechanic inspect the car before buying.