Here's When You Can Get the Best Deals on a Used Car
If you're in the market for a used car, you'll want to keep an eye out for deals this holiday season.
As Black Friday becomes a bigger and bigger deal every year, outshining Thanksgiving as the main reason we look forward to late November, we see more and more industries getting in on providing deep discounts. Those deals aren’t just for the mall anymore. More car companies offer significant discounts on both new and used cars for the day after Thanksgiving. It's weird to think of buying a car as Christmas shopping, but a good deal is a good deal.
According to a recent study by car research side iSeeCars, Black Friday is actually the second best holiday for buying a used car. Statistically, dealers are more likely to offer deals on used cars on Veterans Day. If you just missed your opportunity to save money on a used car this past Veterans Day, you’ll still be able to get a great deal on Black Friday.
But what about those other holidays that car dealers always seem to be making a big deal out of? Columbus Day, Martin Luther King Day, and several others give us chances to save a few bucks on a used car. Here’s just how good of a deal you can get on those days according to data from iSeeCars based on how many more deals you can get on a used car than the rest of the year. A “deal” is considered any discount of 5 percent or more.
1. Veterans Day: 43.2% more deals
2. Black Friday: 37.5%
3. Christmas Eve: 35.6%
4. Thanksgiving Day: 33.0%
5. Christmas Day: 31.4%
6. Halloween: 30.9%
7. New Year's Eve: 30.2%
8. Martin Luther King Day: 23.4%
9. Columbus Day: 16.1%
10. New Year's Day: 13.0%
It’s worth noting that the top five days all take place in November and December. These data coincide with the top six months of the year to buy a used car, which are as follows using the same formula to calculate deals on cars.
1. November: 38.4% more deals
2. December: 38.2%
3. January: 19.9%
4. October: 16.7%
5. February: 4.8%
6. September: 4.4%
Incidentally, all of the top six months for getting the best deal on a used car all follow each other, albeit out of order. You're the most likely to get a discount on a used car between September and February. If you're in the market for a used car, keep your eyes peeled on Black Friday this year for a great deal.