ROCHESTER, N.Y. — After having spent a mint on gifts for family and friends, the last thing you may be thinking about is adding a car payment to the mix.

But if you need a car, now may be the time to take the leap.  That’s because, according to an analysis by iSeeCars.com, the number of deals on used cars increases by 47.9% on New Year’s Eve and New Year’s Day. Of course, I wanted to know why. So, I asked Karl Brauer, an executive analyst with iSeeCars.com.

Karl Brauer: “You have the end of the year in which a lot of automakers and dealers are trying to make their numbers. They want to make a number of sales they can record for not only the end quarter, and the end of the month, but also the end of the calendar year. And that often inspires them to offer good deals or lower pricing to get those vehicles out the door.”

Deanna Dewberry: “I’m wondering if you’re trying to meet end-of-the-year numbers, why would New Year’s Day be a good time?”

Brauer: “I think a lot of car companies and dealers wrap New Year’s Day into the previous calendar year.”

Sales on Jan. 1, 2025 will still count toward those all-important 2024 sales numbers. Clearly, manufacturers and dealers have more incentive to sell, but also lots of folks have racked up some serious Christmas debt. So, consumer demand is down.  

High incentive to sell plus low demand equals the best deals of the year.  But if you can’t hit the lot right now, an analysis of price fluctuation throughout the year indicates you need to buy during the winter months.

Brauer: “Temperature is the one constant. The temperature goes up, so does the price. The temperature goes down, so does the price on your cars. That’s a very general rule you can live by.”

Experts with iSeeCars and Consumer Reports recommend you secure financing before you hit the lot.  That gives you some leverage with manufacturers who are trying to get you to finance with them. 

Always have a used car inspected by a mechanic, and when you take the car for a test drive, politely ask the salesperson not to talk. You want to concentrate on the car, not the conversation.