Best Month To Buy A Used Truck
There's no getting around it: The COVID-19 pandemic that began traveling around the globe in 2020 affected everything, including how we buy cars. Protecting workers from illness meant fewer people in factories and sometimes shutting down manufacturing lines. That led to fewer cars being built but also fewer components for those cars being available as quickly as they used to be. Once the vehicles were built, shipping them around the world became more challenging, whether they were headed out by boat, truck or train.
best month to buy a used truck
Convertibles are for top-down fun in the sun, which means they're not big sellers during winter months in cold climates. If you're looking for a used convertible, try buying in the cold season when you have more negotiating power.
It almost goes without saying that the best time to buy a used car is when you've done your research. You should check listings to see what models are available in your area, consider which features you want, set your budget and check interest rates. Being prepared is especially important now when there are supply chain issues, low inventory and higher prices on both private and dealership sales.
However, some buyers may not have the option of choosing when exaxtly they buy a new truck. If you need a new vehicle now, now is the best time, but if you have the luxury of extra time for car buying and truck shopping, your options are open.
If Black Friday is the best day for truck and car shopping, December might be the best month for making sales quotas that shine. Salespeople and dealers striving for annual bonuses translate into better deals for you, especially if you have comprehensive information and sharp negotiating skills.
If Santa didn't put that shiny new truck under your tree, take advantage of bargains during the last week and last day of the year, a period that is made up of some of the best holidays for truck shopping.
Avoid making a deal for that new or used truck at the beginning of the month. Just as the end of the month is the best time because sellers want to make month-end deals, they have less incentive in the early part of the month to slash prices.
Whether you desire or need a new or used one, the best time to buy a truck is whenever you find it. To play it smart, watch the calendar, come with vehicle research, have money in the bank or financing arrangements, and head for the dealership. Test drive, ask questions, and with your knowledge and skill, negotiate a better deal.
January, February, and December are the three best months to buy a used car, in that order. According to iSeeCars, in general, late fall and early winter are good times to purchase a used car with a deal.
iSeeCars analyzed over 32 million used cars sold between 2018 and 2019 for the study, and vehicles listed at or below 5% market value were then considered deals. The final percentage points per month reflect the differences between the chances of finding a deal that month, and the chances of finding a deal on an average day, which is 26.1%.
Why do six months of price drops make us nervous? Because there are signs the decline may end soon. The wholesale prices dealers pay for used cars at auction have started rising. The nationwide inventory of used cars for sale is shrinking.
According to Car And Driver, one of the best months to buy a truck is in December. Black Friday is technically in November, but it can help kick off the season of savings. Around Black Friday, dealerships and their sales staff begin looking to meet sales quotas to maximize their end of year bonuses.
There are also certain times where you can find better deals on used trucks. For example, according to the U.S. News, you can save on a used truck once a new model drops. For example, when the 2021 Jeep Gladiator arrived at dealerships, prices for the 2020 models dropped.
You can save on a used truck toward the end of the month, quarter, or year. The last week or day of the month or quarter is a good time to negotiate deals. This is when sales members try to meet quotas. They may offer a larger discount, a better deal on a truck loan, and more to reach their goals.
If you're shopping for a new or used car in today's difficult marketplace, please see "Car Buying Tips for 2022" for our experts' targeted, data-driven advice. Note that the article below was originally written before the chip shortage when vehicle prices were relatively stable and predictable. If the shortages continue, there may be a so-called "best time to buy" for the foreseeable future. The best time in the current market is when you find a dealer that has the vehicle you want and is willing to sell it to you at MSRP or better, without any additional options that you may not need.
It's no different for cars. Ask anyone, "When is the best time to buy a car?" and you'll get answers ranging from the end of the month to "wait until the new models come out." There are as many theories on this topic as there are days in the year. And, oddly enough, there is a grain of truth to many of them.
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Best time to buy a used car
Simply put, here's our advice: The best time to buy a car is when you need it and feel ready to buy, regardless of the time of year. Car buying can be stressful, and it can take more than a month to go from deciding what to buy to actually closing the deal. Why add to that pressure by trying to squeeze your shopping into a certain day of the week or a holiday weekend when everyone has the same idea?
While the data shows that December is the best time of the year to buy, there are also a few other viable months. In other words, if you need a car in January, there's no need to wait 11 months to get a good deal.
When you shop for a used truck, these are the most common vehicles online or on the lot. But they range from bare-bones work trucks with few options to luxury trucks with every creature comfort imaginable.
Our sister site Kelley Blue Book is the only site with more than 100 years of experience evaluating the value of every car. Use our car valuation tool to figure out how much to pay, and look for Good Price and Great Price ribbons on used truck ads on Autotrader in your area.
Interestingly, possibly the best strategy is buy a used car or three. "We just bought a used [SUV] with 8,000 miles on it," states Jennifer Merchant of Canton, Michigan. "Days later, we discovered the original sticker hidden inside the vehicle, which was a lower price than we paid."
The blue line, though, is the same calculation but for just the CPI of used cars and trucks. Mostly just up. No real downs. Used cars and trucks have historically retained their value while inflation jumps around. And for this brief moment in time, the current CPI is 98% above its average CPI making it almost equal to the inflation of all goods.
At the same time, there's a big demand for used pickups, both gas and diesel. The used pickup truck market is estimated by some experts to be three times bigger than the new-truck market. Those who can't afford to buy a new pickup, or who like to take advantage of depreciation, are always searching for a good deal on a used pickup.
When shopping for a used pickup, don't be blinded by the bells and whistles, nice paint and attractive price. Be smart and thorough in your decision making, and be sure to see the truck in person and do your own inspection.
Are the drivetrain and smog system components still under warranty? Check the mileage against the truck's drivetrain and the federal emission warranty, which covers some pickups for as long as eight years or 80,000 miles, whichever comes first. This is of particular concern for higher-mileage (125,000 miles or more) diesel pickups, where out-of-warranty engine, computer and transmission repairs can be more likely and costlier. That's where a used truck from a dealer has benefits as some offer a limited warranty after their mechanics have given the truck a detailed inspection and pre-sale service.
One of the best indicators that a used pickup is everything the seller claims is if it has a detailed logbook or service record and receipts of performed work. Oil and filter changes at regular intervals in accordance with the owner's manual, receipts showing any/all work done, and any other dated records can be a good indication the seller isn't trying to hide anything. It also indicates the engine and transmission should have a longer life than a pickup whose owner let routine maintenance lapse for long periods of time.
It's always good to do a background check on any used vehicle you are interested in buying. Carfax.com and VincheckPro.com are two sources that offer such services. Keep in mind that these services are only as good as the sources feeding them the information. If a pickup has been in an accident, for example, and the owner or the shop doing the repair work didn't report it to an insurance company, that repair work will not show up. It's also advisable on a later-model used truck to check the vehicle identification number to see if there are any outstanding recalls that need addressing. Go to safercar.gov to find out.
If a truck has a "salvage title," it's been considered a total loss for some reason and it's been refurbished. Ask a lot of questions as to why it has such a title and exactly what type of work has been done. We'd recommend you have a trustworthy mechanic give it a thorough inspection before making a decision. There's a possibility the truck was flood-damaged, cleaned up and found its way into the used-vehicle market, possibly thousands of miles from where it originated. If the title has a stamp on it that says "flood," know there will be issues no matter what the price.
#1 tip on buying a used truck: Don't. Unless you are extremely lucky and find one that was babied by its first owner, the odds are that truck has been through the mill, even if it still looks good. All the author's tips are valid if you just have to buy used, but expect to put out a few thousand in repairs within the first 12 months of ownership. I have never bought a used vehicle of any type that didn't cost me $5000 (inflation equivalent) within the first year of ownership. 041b061a72