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buy a used car

Is it Cheaper to Buy Cars in the Spring or Fall?

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If you’re in the market for a new vehicle, you might be curious as to which season is best for car buying: spring or fall. Typically, more used cars are sold during the spring and summer, which means sellers are more eager to make a sale during the cold weather months. This should result in lower prices and a bigger inventory, but it doesn’t always work this way. 

To get the best deal on a vehicle, you’ll want to pay attention to the car-buying trends in the news so that you can combine the best prices with the best financing offers. Also, when there is a lot of inventory to choose from, there is more room for negotiation, which can also help you get a better rate. 

Let’s look closer at the benefits to buying a used car in the spring versus the fall so that you can make the best decision for your needs and budget! 

Benefits of Buying a Car in the Spring 

As winter ends, more people are getting out of their homes and looking to purchase new things, including cars. March and April, tax season, are some of the best months to buy a car, either new or used. Dealers and sellers know that many people are receiving tax refunds, so they entice buyers with good deals and financing offers. 

Plus, March and June usually mark the end of fiscal quarters when dealers are more motivated to sell their inventory at discounted prices. We do recommend shopping at the end of the month, as car dealers are in more of a time crunch. If they haven’t reached their goal, they will be more likely to sell you a car at the price you want. 

Also, pay attention to car deals around Memorial Day, as this is when dealers want to get rid of old inventory so they can make room for new models in the fall. 

Benefits of Buying a Car in the Fall 

Historically, fall is an excellent time to buy a vehicle. We’re approaching the end of the year, which means dealers have specific goals to meet. Also, by the end of the year, dealers are trying to sell off the inventory they have to make room for new cars, meaning older models are priced to sell. 

In fact, an analysis by TrueCar found that buyers save an average of 10.3 percent off MSRP when they buy their car in December. Pay special attention to certain dates in the fall, including Labor Day, Black Friday and Christmas. There are always great deals happening around these times, helping you to save a little more off your purchase. 

Should I Buy a Car this Spring, or Wait? 

Here at RepoFinder.com, we believe in buying a car when you’re ready. You shouldn’t have to wait to buy something if your car is unreliable and a money trap. You should be able to afford a new vehicle that you feel safe in, and doesn’t cost you a ton in repair and maintenance costs. But, we also recommend doing your research and keeping an eye out for good deals, as this can help you save significant money. 

RepoFinder doesn’t have a ‘best time’ to buy cars, because EVERY DAY is the best day! We have a directory of banks and credit unions throughout the U.S. that are selling their repo inventory. We encourage people to check back often so they can find the perfect vehicle for them. 

To take advantage of great prices, quick sales and a wide inventory, shop for your new car at RepoFinder! 

inflation and car prices

Used Car Prices are Finally Falling – What Does this Mean for Inflation?

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According to the latest inflation report, used-car prices fell for the third month in a row. Could this be a sign that inflation has peaked? In January 2022, used-car prices hit a record high. But now that prices are slowly decreasing, some experts believe that the consumer price index (CPI) will as well. 

Why is this the case? Because the decline in used-car prices shows that the supply chain issues responsible for inflation are starting to ease up. While supply chains aren’t where they were before the pandemic, they are starting to improve. If this is the case, the prices for other products could start falling, too. 

How Does Inflation Impact Car Prices? 

Inflation refers to the decreasing purchasing power of money, which also determines the increase of prices for goods and services. If your dollar loses power, prices for the things you buy are likely to increase. However, recent data shows that the opposite is happening right now. 

MarketWatch reports that in April and June, the increase in used-car prices accounts for one-third of the overall increase in the cost of living. Normally, used cars don’t have that much power over inflation, but the shortage of new cars has changed this. To monitor inflation, the Manheim Used Vehicle Index has become an accurate source. 

The spike in used-vehicle prices has played a role in inflation, but used-car prices don’t typically have this much influence. However, even now, used-car prices are still up 32 percent from pre-pandemic levels. 

Is Now a Good Time to Buy a Used Car? 

If you’re in the market for a new vehicle, the inflated car prices can have a negative impact on your cost of living. Not to mention, you’ll probably be left with limited choices.

That being said, if you need a car, you need a car. If you have a car to trade in, you’re in a better spot. Dealerships need the inventory, as do rental car companies, so you can probably get more than you would have a year or two ago. You can then use this money to put toward a down payment. 

Save Money and Shop for Repossessed Vehicles

Cars aren’t a luxury for everyone. Most of us need our vehicles to get us to and from work, school and other important places. Therefore, if you need a new car, you might not be able to wait. Fortunately, a little out-of-box thinking can introduce new opportunities.

RepoFinder.com offers a huge database of repossessed cars, trucks, SUVs, etc. that are open to the general public. You do not need a dealer’s license. You can purchase a car for a fraction of the price – and you can pick it up almost immediately. Shop with us today and see what cars you can find for an affordable cost. Yes, cheap used cars still exist!