Looking to Buy a Used Car? Black Friday Would Be a Good Day
If you're in the market for a "new" used car, Black Friday is one of the best days of the year to get a good deal.
With retailers of all kinds competing for consumer dollars on Black Friday, it should be no particular surprise that U.S. auto dealers want to join the party. Still-solid sales of new cars have left dealer lots stuffed with used cars, and the Black Friday weekend is one of the best times of year to get a good deal on a used car.
According to research from iSeeCars.com, Black Friday offers 37.5% more deals on used cars than any other holiday of the year except Veteran’s Day. The two best months of the year to buy a used car are October and November, both with about 38% more deals than an average month.
Phong Ly, CEO of iSeeCars.com, notes:
Dealers are trying to meet their annual goals in November and December, and are more likely to lower their profit margins in order to do so. These major holidays are a great reason for them to drop prices and offer promotions—especially on Black Friday, where there’s increased foot traffic from shoppers looking to buy gifts or shop for bargains.
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Here’s the list of the 10 best holidays to shop for and buy a used car:
- Veteran’s Day: 42.5% more deals than on an average day
- Black Friday: 37.5% more deals
- Christmas Eve: 35.6% more deals
- Thanksgiving Day: 33% more deals
- Christmas Day: 31.4% more deals
- Halloween: 30.9% more deals
- New Year’s Eve: 30.2% more deals
- Martin Luther King Day: 23.4% more deals
- Columbus Day: 16.1% more deals
- New Year’s Day: 13% more deals
It’s worth noting that all 10 of the best holidays occur in the fall and winter. The worst holidays to buy a used car, based on fewer than average deals come in the spring and summer:
- Mother’s Day: 29.8% fewer deals than on an average day
- Memorial Day: 29.5% fewer deals
- Father’s Day: 23.9% fewer deals
- Good Friday: 21.3% fewer deals
- Easter: 19.9% fewer deals
- Independence Day: 17.1%
For additional information and details, visit the iSeeCars.com website.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
