Wondering when it’s the best time to buy a car in Canada? The answer to this question depends on several factors, including your circumstances, the state of your current vehicle, and whether it’s more important to get the lowest possible price or have the best selection from which to choose.
A clear vision of what you want and how much you can spend will help you act when you find the right deal. However, you should take into account the following general factors:
- Seasonal trends: There is often a higher demand for used cars during the spring and summer months, which can drive up prices. Winter, on the other hand, is typically a slower season for car sales, which can make it a good time to find deals.
- Holidays and long weekends: Car dealerships often offer sales and promotions around major holidays, such as Christmas, Boxing Day, and Canada Day, which can be a good time to find a deal.
- End of the model year: If you’re looking to buy a used car from the current model year, it’s best to wait until the end of the year, when dealerships are looking to clear their inventory to make room for new models.
- Shortages: Over the past two years, we’ve observed a growing inventory shortage. There has been a delay in new car production in part due to a shortage of M2 chips, which has also led to an increase in used inventory prices. This is an opportunity for you if you have a car to trade in.
It’s important to keep in mind that these are general trends and may not always hold true. To get the best deal on a used car, it’s always a good idea to do your research, shop around, and negotiate with dealerships.
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What else should I know about the best time to buy a used car?
- Know your budget, your needs, and your deal-breakers. When you find the right vehicle at a great price, you’re ready to buy.
- Know your credit score. If your credit score is low, you might not be able to get a loan from a bank for your used car. However, some dealerships offer in-house financing options that you can take advantage of.
- Do your research. If you’re shopping for a car, find out the fair price range before you enter a dealership.
- Consider your needs. Creating a list of “wants”-such as a sunroof, convertible, or specific colour or mileage-and then prioritizing them will help you make an informed choice.
Best used vehicles to buy now
Right now, there are many great cars on the market. We’ve gathered a list of the top 4 most popular used cars to buy now.
The Honda Civic is a great choice for those looking for a reliable, efficient, and stylish car. One of the biggest selling points of the Civic is its reputation for reliability and longevity, making it a smart investment for those looking for a dependable vehicle. Additionally, the Civic offers excellent fuel economy, especially with its hybrid and electric versions, making it an economical choice for daily commuters and long-distance travellers.
The Civic’s interior is spacious, well-appointed, and filled with advanced technologies and features, making it a comfortable and convenient choice for daily driving. This model also has a sleek and modern design that appeals to a wide range of drivers, and its high resale value makes it a smart choice for those looking to get the most out of their investment. With its impressive combination of reliability, efficiency, and style, the Honda Civic is a great choice for anyone looking for a practical and dependable car.
The RAV4 has excellent fuel economy, especially with its hybrid version, making it a cost-effective choice for daily commuters and long-distance travellers. Despite being a compact SUV, the RAV4 offers impressive off-road capability with its available all-wheel drive system, making it a great choice for those who enjoy taking their vehicle off the beaten path.
The RAV4 has also received high safety ratings, making it a safe choice for families and individuals alike. While its interior is spacious, well-appointed, and filled with advanced technologies and features, making it a comfortable and convenient choice for daily driving.
Dodge Grand Caravan
The Dodge Grand Caravan is a great option for those in need of a versatile and practical vehicle. Dodge has a reputation for building durable vehicles, and the Caravan has been around for many years, which suggests that it has a track record of being a reliable choice.
One of its biggest selling points is its spacious interior, which offers plenty of room for passengers and cargo. Additionally, the Grand Caravan comes with a range of features and technologies that make it a convenient choice for families and individuals alike.
Volkswagen has a reputation for building reliable vehicles, and the Passat is no exception. It has a solid reputation for longevity and minimal breakdowns. The Passat offers a great balance of features, performance, and price, making it a good value-for-money proposition, while it has received high safety ratings.
This model is known for providing a smooth, comfortable ride, which could make it a good choice for long drives or commutes, while drivers of all types will appreciate its sleek and modern design.