Would a used car be the best Christmas gift?

13/12/11

Christmas is probably the last time of year you’d consider thinking about buying a used car – or any car for that matter. With an abundance of presents to fork out for, on top of massive grocery and heating bills, it’s a cash strapped month for most of us. It’s also, however, a time when savvy money savers cash in on great deals on large purchases. January is no longer the time to make big savings, and if you’re looking to buy a used or second hand car, you should start well before Santa comes down the chimney.

So why is Christmas a good time to buy a used car? Well, the end of each month is generally believed to be a good time to go car shopping anyway. Dealers especially will be looking to meet their monthly sales targets and more likely to cut you a deal.

Add this onto the end of year targets and you can see why December becomes a key time for discounts and savings in the buying of used and second hand cars. Dealers might have a wealth of stock left over at the end of the year that needs shifting, fast, and you can make the most of this need. Many dealers work on a bonus scheme too, and they’ll want to make their Christmas bonus, so it’s worth bearing this in mind too. With the difficult economy, many are finding these targets hard to meet, and will therefore be open to negotiation if it means they’ll clinch the deal.

New models of car are usually released at the beginning of each year. With each new fleet of cars that are released means the second hand marketplace becomes more and more crowded – dealers and professional sellers will want to clear any backlog before this wave of new stock comes in. Also, if an individual is selling their car second hand because they’ve got their eye on something new coming out at the beginning of the year, it’s likely that they’ll want to make a quick sale so they don’t miss out on having the new car before anyone else.

Finally, it’s worth bearing in mind that one-off or small sellers may want cash as quickly as possible to cover things like presents and bills, and are again likely to cut you a better deal. It’s also a great time to buy as it means you can test drive against the worst of the weather.

You might feel financially apprehensive about buying a used car at Christmas time, however with planning, preparation, and some keen haggling you could end up with a cracking deal, and a real winter treat.