When Are Used Cars The Cheapest?

When are used cars the cheapest? 

If you’re looking to purchase a used car, you want to get the best price possible. One question you might ask yourself is when are used cards the cheapest? In this article, we look at used car prices and if they change based on the time of year and other factors. So you can get the best value possible when buying your next used car.  

When new number plates are issued 

Used car prices are determined by supply and demand. If supply is low and demand is high, used cars will be more expensive to purchase. So, if you’re looking for a deal and can wait a few months, it might be better to buy a used car when the supply is high. Many people upgrade their cars to the newest number plates as part of their lease agreement or just because they prefer to have the latest car. This means dealers can see a significant increase in supply when the new number plates are issued. People will part-exchange their old car or swap it as part of their contract or lease agreement. New number plates are issued twice a year, in September and in March. After they have been released is a great time to check used car prices. 

Some dealers may also try to clear out old stock before new number plates are issued. They expect an increase in supply and therefore need to plan the space to keep these vehicles. This could be an excellent time to negotiate a deal on your next used car.  

Sales and discount events 

Many car dealerships offer sales and discounts during holiday periods. This could be a summer discount, a Christmas discount or a spring sale. If you’re not in a rush to purchase your next used car right away, it could be beneficial to wait until the dealer's next event to save some money. It is impossible to predict when a dealer will run a sale or discount event, but you can enquire at the dealership or ask if they have run sales or events in recent years. Some dealers will be more than happy to tell you about potential upcoming deals and savings that you can make on your next used vehicle. 

Weather changes 

When the weather starts getting hotter, the demand for certain types of vehicles increases, people are much more likely to want to purchase a convertible in the summer months. As demand increases, the cost of these cars also increases. If you are looking to buy a convertible or a vehicle that is more suitable for summer driving, you may want to wait until after the summer. You can get a real bargain buying a convertible in the winter when no one else is interested in them.  

Quiet periods 

Buying a used car during quieter periods can help you get a better price on your next car. March, June, September and December are typically slower months. When it’s quiet, dealers will be more motivated to make sales to meet their targets. If possible, it is also a good idea to visit a dealer in the week. They are less likely to have customers during the week; this can give you more opportunity to negotiate compared to the weekend when the dealership could be busy.  

Used car prices fluctuate, but remember that there is always a deal to be had. Always try to negotiate on price with the dealer; you could find they have room to come down. The worst-case scenario is the dealer is unable or unwilling to move on the set price, and at least you tried to negotiate. Using our tips above, you can help to save yourself some money on your next used vehicle.