The best (and worst) times to buy a used car — study

Used car prices remain a staggering 29.6% above pre-pandemic levels, but timing your purchase can make a significant difference.

Driving the news: iSeeCars study analyzed 39 million used car sales from 2023 and 2024 to pinpoint the best and worst times of the year to find deals.

• One important thing to note is that deals are available year-round: the annual average chance of finding a deal according to iSeeCars’ research is 33.1%. However, certain holidays and months stand out for better (and worse) bargains.

Zooming in: On average, winter months and holidays deliver the best opportunities for savings.

• In terms of holidays, New Year’s Eve/Day is the best overall, offering customers a 47.9% chance of finding a deal.

• MLK Day comes in a close second, with a 43.3% chance, followed by Presidents’ Day at 37.6%, Christmas Eve at 36% and Thanksgiving/Black Friday at 28.4%.

• By month, January is the best time to shop for a used car, followed by December, February and November.

Behind the scenes: Why are colder months better for car shopping? A lot of it has to demand seasonal fluctuations in demand.

Zooming out: With that in mind, it’s no surprise that spring and summer months are tougher for used car buyers. Demand tends to skyrocket especially high during tax season, further reducing the odds of finding a deal.

• Father’s Day is the worst holiday to shop for a car, with 33.1% fewer deals on average. July 4th comes in second at 31.1%, followed by Juneteenth at 30%, Memorial Day at 28% and Mother’s Day at 27.4%.

• On a monthly basis, shoppers are least likely to find deals in June, which has 30.4% fewer deals on average. May is the second worst month, with 27.8% fewer deals, followed by July at 22.5%, April at 16.8% and August at 8.5%.

Bottom line: Even though some months are better and worse than others, deals can be found year-round. But if you’re shopping during an off-season, be prepared to dig deeper and negotiate harder.

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