The used car market is seasonal, which means that if you expect the right time, you can enjoy a higher selection of vehicles at lower prices.
Surrounders make price discounts for SH cars in certain periods of the year. Photo archive
This trend is especially noted in summer and winter, when the number of car buyers decreases significantly, June being the month in which the lowest activity of buyers is registered.
A recent study proved that the activity of buyers in the used car market fluctuates significantly throughout the year. In June, the fewest cars were checked on the Carvertical Platform, representing 7.6% of the total number of historical reports purchased by the users of the company's services throughout the year. December, with 7.8%, was in second and May, in three, with 8% of the total annual reports.
“The lower activity of buyers from May and June can be attributed to seasonal trends in the car market. After winter, the interest in purchasing cars usually increases as buyers seek to change their cars. However, as summer approaches, the activity slows down again, a lot of people,explains Matas Buzelis, an expert car of CARVERTICAL.
Summer, sellers make discounts
During the summer, many sellers offer discounts for older car models to make room for the new stock. This creates an opportunity for buyers to change their car, they can buy a newer car at an attractive price.
The most popular months to buy a car are October (with 9.3%of all checks carried out on CARVERTICAL), November (8.8%) and September (8.7%). Many buyers are in a hurry to purchase a vehicle before the coming of winter, thus becoming an extremely active period on the market of cars. However, the increased demand during this period also leads to higher prices, so buyers should be prepared to spend more if they buy autumn.
You can save money if you wait for the right time
The end of the year is a favorable moment for changing the car. In order to meet their sales goals and get rid of older models before the New Year, car dealers often provide additional discounts or incentives.
“Many people do not want to buy a car just before the end of the year. Because it takes more time to sell a vehicle during this period, buyers can have a better negotiation power and can get a lower price”, Explains Buzelis.
For companies, the end of the financial year often points out that it is time to update its car fleet, which leads to the placing on the market a larger number of vehicles from fleets.
Once in winter it ends, drivers begin to look for new vehicles and the market becomes more active. As sellers notice the increase in interest from buyers, they become less willing to negotiate prices.
Although winter and summer months can provide good opportunities to find a car at an attractive price, experts advise buyers not to buy any vehicle in a hurry.
“Buying a used car always comes with certain risks, so it is important to make well -informed decisions, to investigate the car's history, to perform a test drive and to inspect the vehicle to an authorized service before making a decision“recommends the car expert.
