Maybe it's a dumb question; we're in the marketing of buying a used car for my wife (then she won't touch my TL no more )...

Got several deals, and I'd say they are pretty good deals... But I'm wondering, if the valuse of the car will drop tremendously in the beginning of next year?

Say the private party value is now $20,000 in good condition,
Will it become $19,000 (or even lower) just because 2007 comes?

Should I buy the car now, or wait will the new year's day?

 

Its the best time to buy a new car, or at least one of the best times. The dealer is trying to push all of its old inventory off the lot to make room for the new model year vehicles. Saving thousands of dollars isn't stupid at all.

 

If you read his post, he is in the market for a used car.

for used cars, i would wait until next year. The value of the car DOES indeed drop due to year changes. You may be able to negotiate a price that's lower now for a used car, but by next year, you should be able to negotiate an even better price since it's one year older on the books.

concerning new cars, it all depends on how long you plan to keep your car...if you're concerned about the resale in 3-5 years, then you want to buy in as early into the model year as possible. So now would be a good time to buy '07 MY if you want to maximize resale. OTOH, if you plan on keeping the car well into 7 years, then you want to maximize your savings, so buy an '06.

I remember when I got my 2001 cl-s in early 2000. Since the 2001's were sold well into 2001, when came time to sell (or actually when it was totaled), they calculated the value of my car vs. all 2001, whether it was sold in late 2001 or early 2000, so i was able to maximize the price of the car even if it was technically almost 1 year older than other 2001's.

 

I don't know that the value will change significantly just because January 1st rolled along. The used car market is pretty saturated now, so just about anyone selling cannot really go by blue book private party values. Many guys on this site have withdrawn cars from listings because they could not sell them for what they wanted.

I hear it all the time where people state their car is worth "such and such" just because they read it on KBB. It's only worth that amount if you can actually sell it for that price - and until KBB starts guaranteeing their price suggestions with a purchase agreement I'll take it for what it is - an opinion.

 

Put it this way I bought my 03 TL-S with 34k for 17.5K cause I went to the dealership on December 31st and they were asking 19.5. I could have bought it sooner but I waited cause I know they want that inventory gone by the end of the year.

 

For a USED car, December and January are the best months.

 

I think even used cars count towards the dealers quotas. So my guess is that the end of the year (december) would be the best time to buy.


*edit* just realized you asking about the KBB values for private party. In that case, no idea. Guessing january would be better.

 

End of the month always nets you a good deal. End of the year is even better. I saved a ton on both my cars going to the dealership at the end of the month.

 

Well, considering the new model year started back in August/September whatever car you're looking to buy used is already another model year older... so whether you buy it in Dec. 2006 or Jan/Feb. 2007 is irrelevant...

So I'd say unless you're going to wait until the 2008 model year rolls around next Aug/Sept and prices drop again, buy it whenever you feel you're getting the good deal...

 

Absolutely agree. There is a tremendous amount of used cars where I live as well. Dealers are appraising them substantially less than the published wholesale prices. If you find a pre-owned vehicle you like and it suits your needs, you should be able to obtain a very good deal. And if its from a dealer I'm sure they are very willing to move their pre-owned inventory as well.

Terry

 

so then i guess i should be grateful that i was able to negotiate my trade-in at excellent condition on KBB???

 

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