Automotive

When is the best time of year to buy a used car (2-3 years old)?

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  • Oct 25th, 2012 8:00 pm
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Sep 13, 2012
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When is the best time of year to buy a used car (2-3 years old)?

The used car market goes through predictable price variations and I'd like to know when the trough price period.

I'm looking at a foreign make small to mid-sized car, if that impacts the timing issue.

Thanks.
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Deal Expert
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Feb 26, 2004
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That really depends on supply and demand of the make and model you're looking at.
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Let's say Honda Civic or Accord.
depends on supply and demand
Not all variation in supply and demand is unpredictable.
Newbie
Oct 16, 2012
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Generally you are looking for a vehicle that is 3-4 yrs old with about 60-80k on the odometer.
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A 2 to 3 year old car is what I'm looking at... mileage below 80k.
Jr. Member
Sep 1, 2009
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December 31st is the best day to purchase a car. Dealers are trying to hit their year-end sales quotas.
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mike84 wrote:
Oct 21st, 2012 5:36 pm
December 31st is the best day to purchase a car. Dealers are trying to hit their year-end sales quotas.
Thank you. Any recommendation on pre-owned certified Hondas, am I still getting reamed? Comparable Toyota, etc.
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glassandmonocle wrote:
Oct 21st, 2012 7:31 pm
Thank you. Any recommendation on pre-owned certified Hondas, am I still getting reamed? Comparable Toyota, etc.
You should double check with insurance company about trim of car and cost.

I pay crazy wacko premium on a 1998 Toyota because of its trim and, according to Insurance, --- the parts are expensive

I like Honda Accord styling better. Don't buy first generation car *might have bugs that later gets fixed in later generations*
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Oct 20, 2001
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glassandmonocle wrote:
Oct 21st, 2012 7:31 pm
Thank you. Any recommendation on pre-owned certified Hondas, am I still getting reamed? Comparable Toyota, etc.
Not worth it. Take advantage of the $4000 cash purchase discount on the 2012 Accords.
These folks have taken over RFD, so I'm done here.

Mutu qabla an tamutu
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Rehan wrote:
Oct 21st, 2012 8:45 pm
Not worth it. Take advantage of the $4000 cash purchase discount on the 2012 Accords.
I can do better.
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glassandmonocle wrote:
Oct 21st, 2012 5:07 pm
A 2 to 3 year old car is what I'm looking at... mileage below 80k.
As a general rule, a 3 year old used car with 45,000 km - 80,000 km is a good starting point / sweet spot IMO.....assuming the price is right of course. :)

That said, you really have to ' run the numbers ' on ' new vs used ' when it comes to vehicles with very high resale values / low depreciation rates .......like Hondas.

Once you take into account aggressive pricing incentives etc. on a new Honda model coupled with the anticipated total ownership costs over the next 5 to 7 years, it might be the case , that a new Honda is the better value proposition than buying a used Honda.

Getting a really good deal on a used Honda ( vs new ) can be tricky at times....you really have to know your numbers to pull it off ........so, be sure and do your homework.
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Jul 7, 2012
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Kanata
I agree with poedua. I have recently spent a lot of time going through used cars and found them very expensive for what you get.

It does not mean this is impossible but if you consider your time as money, I would then factor this in the equation as it may take time + luck to get a good used car !
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Jan 7, 2011
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Here
glassandmonocle wrote:
Oct 21st, 2012 9:40 pm
I can do better.
But you have to look at more than JUST your up front cost.
Say you plan to keep the car 5 years, well in 5 years time your 3 year old car is now 8 and won't get you near the re-sale value of what a 5 year old car would had you bought new. Crunch the numbers, on these cars with high re-sale value, a lot of times total cost of ownership isn't much more when buying new. And naturally the older car would have cost you more to maintain over that span.
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May 23, 2007
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Ottawa
If you're financing a Certified pre-owned honda civic or accord you can get an interest rate as low as 2.49% over 48 months http://cuv.honda.ca/inventory/finance-offers

I would buy the last business day of the month - you'll get the best deal. Keep us posted! You should easily get at least 1k off the sticker price + a low finance rate = a good deal.
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