If you’re shopping for a used car in Canada, the timing of your purchase can significantly impact how much you pay. Experts agree that the end of the year—especially November and December—is the prime time to find great deals. Here’s why:
1. Dealerships Are Clearing Out Old Inventory
As the calendar year ends, Canadian dealerships aim to hit annual sales targets and make room for next year’s models. To meet these goals, they often offer discounts and promotions on used vehicles.
2. Salesperson Incentives
Salespeople at dealerships often have quotas to meet by year-end. These quotas are tied to bonuses, making them more motivated to close deals, often at better prices for buyers.
3. Private Sellers Want to Wrap Up Before Tax Time
Canadian private sellers may want to finalize sales before December 31 for tax-related reasons, creating opportunities for buyers to negotiate favourable prices.
4. Holiday Deals and Promotions
Year-end holidays like Black Friday and Boxing Day often bring sales events at Canadian dealerships. While these are typically focused on new cars, used car prices frequently see reductions as well.
5. A Surge in Trade-Ins
As Canadians look to upgrade to newer models for the new year, dealerships see a spike in trade-ins. This increased supply means more options for buyers and potentially better deals.
Tips to Get the Best Deal
- Do Your Homework: Use Canadian tools like AutoTrader.ca or Kelley Blue Book Canada to research fair market values for the car you want.
- Secure Financing Ahead of Time: Getting pre-approved for a loan can give you stronger negotiating power.
- Hire a Mobile Car Inspector: Always have the car inspected by a professional before purchasing. Services like iNeedaPPi Car Inspectors operate across Canada, giving you confidence in your purchase.
- Shop During Off-Hours: Visit dealerships on weekdays or close to closing time, especially toward the end of the month or year, to boost your bargaining power.
Conclusion
While there are deals to be found throughout the year, the end of the year is uniquely suited for Canadian buyers seeking the best value on a used car. Don’t miss this opportunity to get behind the wheel of a great car at a great price!
