When Is the Best Time to Buy a Used Truck? Expert Insights & Market Trends
If you're looking for a used truck, you already know how difficult it can be to find the perfect balance between price, condition, and value. While trucks continue to rank among the most in-demand vehicles for consumers in both new and used markets, that high demand often translates into higher prices. In the current auto market, and particularly now that interest rates on loans are higher than they have been recently, many buyers are looking to used trucks as a cheaper option. Then, when is the ideal time to purchase a used truck? Is there a window during which prices are lower and deals are more common?
In this guide, we’ll discuss the best times of year to buy a used truck based on market trends, seasonal buying patterns, and expert commentary. You may be able to get a deal without sacrificing the quality of the vehicle if you time your purchase right.
When's the Best Time to Buy a Used Truck: Knowing Market Trends
Why the Second-hand Truck Market Timing Is Everything
There is a natural cyclical pricing with used trucks (as with all vehicles), which can be tied to seasonal considerations, dealership sales quotas, and consumer demand. That is, warmer months tend to drive more demand up as people take their trucks on road trips or venture outdoors, and colder months are accompanied by less demand. Knowing those trends can help you time that purchase for when used trucks are more competitively priced. So, next time you're asking yourself again, when is the best time to buy a used truck? It’s all about learning how these cycles work in your favour; that’s the answer.
Key Months to Consider When Buying a Used Truck
Expert analysis tells us that some months are better than others statistically for certain used truck makes and models. Here’s a closer look at the best times to buy, according to market trends and seasonal changes:
Best Months for Deals on Used Trucks
December (41.0%)
+34.4% more deals than average
Used trucks tend to be cheapest in December and are especially good toward the holiday season. Dealerships want to make end-of-year sales quotas and move out older stock. What’s more, with the colder weather comes fewer buyers coming out to shop and therefore less competition. Great deals are to be had at this time of year, with prices being driven down by the end-of-year pressure on dealers.
January (41.9%)
+37.4% more deals than average
The start of the year is another great time to buy a used truck. Dealerships are looking to start off the new year with strong sales now that the holiday crush is behind them. That, combined with lower foot traffic and the post-holiday shopping hangover, leads to discounting on remaining product. The best deals are likely to appear in late December and through the middle of January.
February (39.4%)
+29.2% more deals than average
February may not bring as many deals as December or January, but it still offers plenty of opportunities for savings. Automakers, who have been racing after customers for years with an onslaught of consumer incentives and cheap finance deals, are taking no chances in the midst of a crisis of confidence. And many potential buyers are still trying to pay off the debt they racked up over the holidays, all of which leads not just to fewer sales but also better negotiating clout for anyone who’s financially prepared to buy.
Months to Be Cautious About Buying a Used Truck
While some months are terrific for finding a deal, others are not so much. An understanding of these months can help you avoid overpaying.
June (21.5%)
-29.6% fewer deals than average
June typically signifies the start of car-buying season. As people begin to plan road trips, vacations, and outdoor adventures, demand for trucks is on the rise. That means used-truck prices are likely to go up, and that dealerships might be less willing to dicker on price. Don’t expect to find a deal in June.
May (22.7%)
-25.7% fewer deals than average
May is a time when buyer interest starts to heat up, along with the weather. People have been getting ready for summer, and demand for used trucks generally surges. So while you might find good vehicles, good deals can be harder to come by, and there may not be anything particularly special about the prices.
July (23.8%)
-21.9% fewer deals than average
Not to mention that late summer (especially July) is not recommended for buying a used truck. Dealerships could delay offering big discounts, with warm weather pulling more Americans onto the road. Buyers are also generally more distracted by travel and other summer activities in the critical month of August, removing dealer pressure to move inventory out.
April (25.8%)
-15.3% fewer deals than average
With spring in full swing, and people getting ready to use their trucks for camping, outdoor activities and vacations, the demand for those vehicles grows. April is when this seasonal increase typically takes place, so it’s not the best month if saving money is top priority.
How Do You Get the Best Deal on a Used Truck
Although timing your purchase is key, there are other factors to consider to maximise your savings:
1. Shop During Off-Peak Hours
Dealerships are less busy during the middle of the week, especially on Tuesdays and Wednesdays. That frees salespeople up to spend more time with customers, working to get those better deals.
2. Consider End-of-Month or End-of-Quarter Purchases
Salespeople and the dealership may have quotas to meet each month or quarter. The end of the month or quarter can be a good time to buy, in case they’re eager for an extra sale and will give you a discount.
Find Your Second-Hand Trucks at Merit Autos Today
Looking for a reliable, high-quality used truck at the best price? Look no further than Merit Autos. We offer a wide selection of well-maintained, dependable trucks from top brands like Ford, Toyota, Chevy, and more. Whether you're looking for a powerful full-size truck or a versatile midsize model, we have something to fit every need and budget.
Visit Merit Autos today and explore our extensive inventory of used trucks. Take advantage of our current deals and get the best truck at the best price!
So, when is the best time to buy a used truck? The secret is knowing the market and timing when dealerships are most likely to reduce prices. The best months (on average) for finding travel bargains are usually anytime from late November to the end of January, with December and January standing out as the peak months to get a deal. Although summer months, such as June or July, are not the best for bargains, through discretion and planning, you can make an excellent purchase within any month.
If you’re in the market and ready to start your search, take these learnings into account next time you head out shopping and point your browser to see how they apply by eyeballing some of the latest listings for your perfect used truck. The timing could not be better or righter when it comes to a good deal on a vehicle that ticks various boxes with regard to your specific needs without necessarily depleting your budget.
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