It’s the most wonderful time of the year – especially if you’re shopping for a used vehicle.
Starting on Veterans Day and running through New Year’s Eve, car dealerships are geared up for eight of the top 10 best shopping times of the year, according to iSeeCars.com.
Seven of the 10 best holidays – including New Year’s Day – also fall during this time of the year.
The car research and shopping website analyzed more than 40 million used car sales from 2013 to 2015 in search of those times – and holidays – when dealers were selling at least five percent under market value, and what they found may warm the hearts of used car shoppers.
“Dealers tend to make a big push to boost sales in the late fall and early winter by offering bigger deals, and the holidays are a great reason for them to pump up their promotions,” said Phong Ly of iSeeCars.com. “When you are buying something as expensive as a car, saving even five percent of your purchase, or $952 off the average price of $19,040, can really add up.”
The best times to buy a used vehicle over the next month and a half, along with the percentage of deals that met iSeeCar’s five-percent rule, include:
- Black Friday, 33.1 percent more deals (Nov. 24)
- Veterans Day, 32.5 percent (Nov. 11)
- Thanksgiving, 30.6 percent (Nov. 23)
- Christmas Eve, 28.7 percent (Dec. 24)
- Month of November, 26.9 percent
- Month of December, 23.5 percent
- Christmas, 21.4 percent (Dec. 25)
- New Year’s Eve, 21.3 percent (Dec. 31)
(Columbus Day and Martin Luther King Jr. Day were the other two times on the list.)
And the top 10 holidays include:
- Black Friday, 33.1 percent
- Veterans Day, 32.5 percent
- Thanksgiving Day, 30.6 percent
- Christmas Eve, 28.7 percent
- Christmas, 21.4 percent
- New Year’s Eve, 21.3 percent
- New Year’s Day, 15.8 percent
(Halloween joined Columbus Day and MLK Day on the holiday list.)
“Between yearend promotions and dealers scrambling to take advantage of the last few months of the year to meet their sales quotas, the conventional wisdom of shopping for a car at the end of the year holds true, though there are some holidays that are better times,” Ly said.
If you’re looking for a used car, perhaps that’s one of the reasons it’s the hap-happiest season of all.