Is January Really The Best Month To Buy A Used Car?
As we all were setting our resolutions and goals for 2021, I said to myself this was going to be the year I get a new (to me) car...preferably before mine breaks down.
I absolutely love my car, I really do; however, my 2011 Jeep Grand Cherokee has been rode hard for the four-ish years I've owned it and that doesn't include who had it before me.
This bad boy has over 350,000 miles on him...no, that is not a typo, those extra "0's" are no accident...It is safe to say with every suspicious noise, every light that comes on, every minor wiggle, shake or shimmy I automatically think "ope, this is it."
So as I am now on the lookout for a used car that I can afford, when I saw claims that this month was actually the best for buying a used car, it peaked my interest!
According to a study done by car search engine iSeeCars, there are 29% more deals on used cars in January than average.
The car search engine figured out this information by looking at over 32 million used car sales and compared different times of the year (holidays, months, seasons, etc...) to find out when car-buyers were getting more or fewer significant deals (5% or more).
With January coming in first with the highest percentage of deals, they also were able to pinpoint the best DAY of the year to buy a used car and, lucky us, it's coming up!
Apparently, Martin Luther King Day (January 18th) is projected to have 39% more deals than other times of the year.
They also say the absolute WORST day to buy a used vehicle is actually July 4th, where they found buyers were getting 19% fewer deals than average.
Now, with that information in mind, looks like I will be really getting my foot on the GAS (pun intended) to find a new (to me) car before the month is out.
And while we're talking about car-related things that probably won't happen, here are some Michigan-made concept cars:
MORE: Michigan Concept Cars - Some Become Stars and Some Are Forgotten