Getty ImagesA used car lot in San Francisco.
If you’re waiting to shop for a used car until after the busy holiday season, you might want to reconsider. An analysis from the automotive Web site CarGurus suggests that you’ll get a much better deal on a used car if you shop close to the Christmas holiday, instead of waiting until later in the winter.
Demand for cars tends to flag at the end of the year. That means prices can be attractive, according to a study of seasonal price trends compiled by CarGurus. The site based its analysis on its used-car price index, with has tracked list prices on roughly 12 million used cars since 2010.
The index shows that car prices usually hit their lowest average of the year in the weeks from Thanksgiving to the first week of January. After that, prices rapidly rise, as demand returns with the new year.
CarGurus says that used-car prices have been in steady decline since peaking in late August and predicts prices will bottom out by Jan. 8 at almost 5 percent below the August peak, with the most striking dip occurring from now to the first week of January. After that, prices are expected to climb by as much as 4 percent by mid-February.
That means, according to CarGurus, that if you’re planning to buy a car in the next six months, you might consider a used model and buy it before New Year’s Day.
Are you willing to take time out from holiday plans to go car hunting?
Article source: http://feeds.nytimes.com/click.phdo?i=be51c3b7ad0fb25cb49b133c25cbf28a
Speak Your Mind
You must be logged in to post a comment.