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When should you buy a used car?

Posted on Friday, February 10, 2012 at 3:29:07 PM

A used car offers more than transportation - it provides a financial investment. Therefore, consumers should consider the economic climate and time of year before making a purchase. There are definitive times of year that can give a consumer an advantage, however nothing is a guaranteed deal. A consumer may wish to be ready with an approved used car financing loan amount before shopping around to help stick to a budget, and pay attention to which months may lead to better deals.

"From mid-February through early June, the auto industry goes through an event called tax season," Steven Lang, who runs a dealership in the Atlanta area, told "Folks receive their refund checks from the IRS, which in turn creates a nice little bubble of activity in the used-car industry."

Overall, the auto industry prepares for this time by increasing prices, according to New models often come out between July and August. Therefore, August through late October typically offers plenty of used car options as consumers trade in last year's model for a newer vehicle.ADNFCR-16001052-ID-800705657-ADNFCR