Like anyone with good sense, New Jerseyans love to get a good deal. That's especially true when it comes to major purchases like cars. Of course, going with a pre-owned car is going to save you money (and avoid depreciation) compared to a new car, but there are ways to save even more. And a big part of that is paying attention to how prices fluctuate – and when the deals will be best. Buying used cars in NJ is just like buying anything else: the prices are cheapest when the demand goes down.
So when should you shop for used cars to get the best deals?
Hold your refund
If you got a tax refund this year you might be thinking of using it to buy a used car, or as the down payment for a car. However, so are millions of other Americans. Car dealerships see a huge amount of business starting in February and running through May or June as people get their tax refunds. When all those people are out shopping, it means salespeople in NJ can count on lots of potential buyers and high demand. That means they have no incentive to come down as far on a price as you might like. If you can stand waiting, tuck that refund into a savings account for a few months and come back when their business is slow.
The flip side of the tax season rush is the big slowdown later in the year. Just as spring is a big time for car dealerships in New Jersey, autumn is their dead season – or as close to one as they're going to get. Specifically, October or early November is when most people are done with vacations, aren't getting any holiday bonuses or tax refunds, and are generally more focused on staying at home as winter approaches. That means there aren't as many people shopping for cars and salespeople are more likely to work with you. If you can target your shopping for this season, you're more likely to get a bargain.
Don't believe superstition
People often believe that going at the end of the month or on a rainy day will net them a deal. While there are a lot of manufacturer incentives that end out at month's end, they affect mostly new car prices – and salespeople in NJ know they can wait out a rain storm. It doesn't hurt to time your visit to a slow day, but it may not mean big savings.
There are lots of factors that affect the prices of used cars in NJ. How do you look for deals?
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Ashely is a part of a team of writers who have contributed to tons of blogs . Follow her @AshelyMarie1985 to see what else she has to say about cars!