3 Reasons That Fall Is a Good Time To Buy a Used Car
Written by
Adam Palasciano
Edited by
Travis Woods
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
If you’re in the market for a vehicle, it might be a smart idea to consider a used car. With everything so expensive these days, opting for a used, rather than brand-new, car can save you money. Even more importantly, buy a used car in the fall, rather than spring or summer.
First, it’s important to know the facts about the current used car market before you start shopping. Here are some important statistics to note, according to Cox Automotive:
- There were about 2.17 million total unsold used cars in the U.S as of August 1, 2024.
- The average listing price for a used vehicle is $25,415.
- The average mileage for a used vehicle is 69,699 miles.
The good news is that the average price of a used car today is down compared with a few years ago. The average listing price for a used vehicle during the pandemic in 2021 was over $28,000. However, buying a used car is still going to cost you a significant sum of money. If you’re wondering if now is a good time to get a “new” set of used wheels, the answer is yes.
Here are three reasons that the fall season is a good time to buy a used car, according to Auto Bank of Kansas City and Jordan Automotive Group:
There Are More Deals
If you head to your local car dealer, you’ll likely find that they’re trying to move their current inventory off the lot as quickly as possible. Ultimately, they need to sell more of their current stock to make space for next year’s models. So, if you’re willing to buy a car that someone just handed back to the dealer after their lease ended, or if you’re fine with a slightly older model, you can certainly save a bundle on a used car this fall.
You Have More Time to Shop for a Car Since the Kids are Back in School
If you’re a parent, you were probably busy with your kids all summer long: shuttling them to and from friends’ houses, day camp, and not to mention less “me time” at home. Now, you can take some time to destress. If you’ve really needed to shop for a used car but haven’t had any time for yourself, autumn is the perfect opportunity to use some of that “me time” to get yourself another set of wheels.
Spring and summertime are generally much more hectic at auto dealerships in terms of sales. During this season, you’ll likely find that salespeople have more time to give you their attention. You’ll have more time to ask all the questions you need so you can make an informed decision about your next car.
There Are More Seasonal Promotions and Sales
Whether it’s Black Friday, Veteran’s Day, or Columbus Day, auto dealerships typically have sales around these holidays. The best part? All of these holidays happen to be in the fall. You’ll find more deals on used cars now than you will if you wait until next spring or summer to start shopping.
More From GOBankingRates
