When is the Best Time to Buy a Used Car?

A brand-new car will be costly, irrespective of discounts and special offers. The alternative is to go for a used car, which will surely prove to be less expensive. However, you should always look at how much an investment will yield in the long run, instead of focusing on the short-term benefits.

Here are Some of the Reasons to Opt for Used Cars Instead of New Ones:

• Used cars are often housed in lots next to new models in a dealership. Thorough inspections are performed on the cars by professionals, and the necessary repairs (if any) are also completed. They are declared to be "good quality vehicles" if all the checks indicate positive results. Some vehicles might be just 2-3 years old with low mileage.
• The moment their owners start driving them off from the lots, the value of new vehicles goes down by a few thousand dollars or more. A second-hand car can thus save you quite a bit of money without having to compromise on quality.
• You have to shell out much less to cover the costs of taxes, insurance, and registration as opposed to a new car.
• If you are lucky to buy a vehicle that comes under the original warranty period, talk to the dealer to find out if the warranty is transferable. It can generally be arranged. Mega lots provide good warranty coverage at times. A default guarantee is available with every car sold by the lot or more coverage can be added for a reasonable charge.

Take Advantage of Certain Holidays

Some holiday weekends are the perfect time to invest in a used car. iSeeCars.com conducted a study back in 2016, to ascertain the best holidays for getting lucrative deals -- Remembrance Day, Black Friday, and Christmas Eve. Dealers have to hit their end-of-year sales targets you know!

Apart from the holidays mentioned above, steer clear from holidays where families typically gather such as Mother's Day, Father's Day, and Easter Sunday. Dealers are generally understaffed during this time as opposed to a regular day of the week, and private sellers are focused on the family events, rather than selling the family car. Fewer sellers in the market on any given day typically means higher prices. Since holiday weekends are popular times to buy new cars, with generous incentives and big sales on car lots, there are loads of vehicles coming back to the dealers as trade-ins or lease returns. Private sellers usually try to get rid of old cars in order to take advantage of deals. Right after a huge weekend sale, buyers are likely to find car lots full of vehicles awaiting refurbishment or shipping to auto auctions. Several dealers would wish to sell those used cars at deeply discounted rates (which they are likely to get in an auction).