Psst. Want to likely save at least five percent when you buy a used car" Wait until Martin Luther King Jr. Day (mid-January) to buy. You may get a deal you wouldn’t receive during other months.

Analysts at iSeeCars.com came to this conclusion after they reviewed more than 32 million used car sales to determine the best times to buy a used car. They compared sales during various holidays, months, and seasons to calculate the ripest car savings windows.

When Should You Buy a Used Car"

Although the holiday season is generally a good time to purchase a vehicle, that might only apply to new ones. If you are looking for something used, it might be best to wait until after the first of the year. When iSeeCars.com talks about “deals,” they mean saving five percent or more than you’d typically pay for the average used car.
Based on their research, iSeeCars notes that the average used vehicle is priced at $22,008. A savings of five percent, in this case, would amount to $1,100. The figures below reflect the best times to shop for a used vehicle and the chances consumers are likely to receive a deal above the average of five percent. For example, Martin Luther King Jr. Day offers the greatest chance of savings, which provides nearly 40 percent more deals than average.

Best Times to Buy a Used Car

Martin Luther King Jr. Day: 39.2 percentJanuary: 28.7 percentFebruary: 22.1 percentNew Year’s Eve/New Year’s Day: 20.5 perce...