ó Black Friday is known for being one of the busiest
shopping days of the year, with long lines and frenzied
shoppers chasing early bird, door-buster deals on
everything from clothing and toys to big screen TVs.
itís time for bargain hunters to think even bigger.
Friday happens to be the best time to snag a deal on a
used car, according to a study by iSeeCars.com.
car-buying search engine analyzed some 40 million used
car sales from 2013-2015 to find the top 10 best times,
and worst times, to get a good deal.
site compared holidays and other specific days of the
year, plus months of the year and days of the week, to
pinpoint when consumers found more or fewer deals than
average. A deal was defined as saving 5 percent or more.
always nice to save money, and when you are buying
something as expensive as a car, saving even 5 percent
of your purchase ó or $952 off the average price (of a
used car) of $19,040 ó can really add up," said
Phong Ly, CEO at iSeeCars.com.
Black Friday ó which offered 33 percent more deals
than average ó the next best times were Veterans Day,
Thanksgiving, Columbus Day and Martin Luther King Day.
Most of those holidays typically arenít thought of as
big shopping days. Ly explained that three-day weekends
were a good opportunity for dealers to pump-up
out the top 10 were Christmas Eve, the month of
November, the month of December, Christmas and New Yearís
Eve, which offered 21 percent more deals than average.
the flip side, the Fourth of July was found to be the
worst time to buy a used car, offering 28 percent fewer
deals than average. The next worst times were Motherís
Day; the months of April, May and June; Easter; Good
Friday; Memorial Day; Fatherís Day; and the month of
July, which found 12 percent fewer deals.
months go, the five-month stretch from April to August
was the worst time for finding used car deals, while
November, December and January were the best.
the current new model year comes to a close around
August, consumers start trading in their used cars in
higher quantities," Ly said, increasing supply and
prompting dealerships to cut more deals.
car buyers who canít wait until the end of the year,
shopping on weekdays was slightly better than on a
weekend, while the first day of the month offered more
deals than the last day. The fifth day of the month was
because dealerships typically end the sales month a few
days into the beginning of the next month, Ly said.
like the end of the year, dealers are probably trying to
make some last-minute sales to meet their monthly