ROCHESTER, N.Y. — If you’re in the market for a new car, the six best days of the year to buy are approaching. According to experts, December 26 through the 31st are the best days to hit the lot.
During this time, dealers are trying to meet their sales goals for the end of the month as well as clear out all the 2024 models by the end of the year. However, if you’re thinking about a pre-owned car, Ray Shefska, a car guru who runs a business called CarEdge with his son, suggests you may want to think again.
“It makes more sense to buy a new car today than to buy a pre-owned two- or three-year-old car,” Shefska said.
Used car prices are up 5% year over year. Shefska gave an example of a customer interested in a 2023 Honda Civic listed at $24,300. A comparable 2025 Honda Civic was $27,400, a difference of $3,100.
However, the interest rate on a used car loan is always higher. Currently, the average rate for folks with excellent credit is 9.4%, making monthly payments over 60 months about $509. On a new car, the average rate is 6.8%, making the monthly payment about $540, only a $31 difference.
There’s also a difference in warranty, with a 3-year warranty for the new car and only one year left on the used one.
Shefska advises waiting until the end of the year to snag a new ride.
“Typically we see the highest amount of incentives offered by the manufacturers in December and we see the greatest amount from the dealers to discount,” he said. These are the kinds of issues he discusses on his YouTube page which has 677,000 followers.
If you’re in the market for a used car, you can find deals at the end of the year as well. However, if you don’t find what you want at the price you want, Shefska says to wait until January or February. Generally, the colder the temps, the lower the price, and the higher the temps, the higher the price.
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