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When is the Best Time to Buy a Used Car in Canada

When is the Best Time to Buy a Used Car in Canada


Why Buying a Used Car Makes Sense

Owning a car can be quite an expensive proposition. Between fuel, financing, maintenance, and insurance, many owners barely have enough money left in the budget to enjoy their vehicle. While there's little you can do about the price at the pump, going the used car route can help with maintenance, insurance, and especially financing costs.


Consider that many new vehicles lose as much as twenty-percent of their sticker price the minute they leave the new car lot, and another ten-percent after just one year. By their third birthday, some cars sell for as much as half off of their original MSRP.


Also, insurance companies base their rates on the cost of the car being insured. It stands to reason that you will pay lower premiums on a vehicle that costs $20,000 compared to one that sells for $35,000.


Other reasons to buy used include lower taxes and more car for the money. Buying used also makes sense if you put only a few-thousand kilometres on your vehicle every year.


What is the Best Time to Get a Good Deal on a Used Car


If you're looking for a leftover or used vehicle, Fall tends to be the best time to buy. Most dealerships want to clear out their inventory to make room for the new arrivals. Dealers usually put their demo vehicles on sale in the Fall, as well. December is also one of the best times of year to buy a car in Canada.

Dealers like to keep their inventories lean through the slower winter months. They typically try to clear out anything that hasn't generated much interest, between Christmas and New Year's. If waiting until year's end is not an option, consider buying near the end of a month. Many manufacturers offer bonuses to dealerships and salespeople with the highest monthly sales. You may catch things just right and score a great deal.

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