Why Now is the Best Time to Buy Used Cars in Kansas City
Every year, manufacturers release new iterations of their models to give them the chance to add new features, revise specifications, or chase trends. As the end of the model year approaches, new car dealerships in Kansas and Missouri are left with many vehicles that are no longer the hottest new nameplate.
Dealerships desire to get rid of the previous model year vehicles as soon as possible, so end-of-year sales are one of the best times to buy a new car if you’re looking for a bargain.
Consider used cars over end-of-year cars
If saving money on a vehicle purchase is your number one concern, then buying a used car that is just just a few years old represents an even bigger saving.
Used cars for sale at Auto Bank in Kansas City, MO that are only one-to-three years old will offer virtually all of the same features as an end-of-year model from this model year, but at a significant discount. Certified pre-owned vehicles even have a warranty.
Car models run in a cycle where major updates are only made every few years, so for most years, the differences made are superficial. It’s easily possible to get a used Toyota, Ford, Chevy, Dodge, or Honda at Auto Bank with a higher specification for a price that’s lower than any end-of-year model special offer.
When to buy end-of-year vehicles
The model year varies per manufacturer, but most manufacturers will do their best to add a new model year as soon as they can. A 2023 Chevrolet Equinox sounds more up-to-date than a 2022 Hyundai Elantra, for example, even if the cars were actually manufactured in the same month.
So, if you have a particular end-of-year vehicle in mind, research when the new model release is expected to arrive in Kansas dealerships. You’ll want to time your car shopping to be around a month before the new model will be released, as this is when new car dealerships are itching to get rid of their “older” models. As a general guide, this is usually in October or November.
If there’s a particularly good deal on an end-of-year model, check the odometer. If the car has already done a bunch of miles, it may have been used by the Kansas City dealership as a test-drive vehicle or even a loaner.
You may be happy with this if you get a decent discount on the price. However, it’s likely that the dealership will have already registered the vehicle, meaning there will be a shorter period left on the manufacturer’s warranty, so take this into account.
Think about your car buying habits
Buying an end-of-year model in a sale represents a saving upfront. But you must also consider that the model year of your vehicle makes a big difference to the resale value. When it comes time to sell your vehicle in the future, you’ll be selling a 2023 Nissan Altima instead of a 2024 Nissan Altima, for example.
Take this depreciation into consideration when deciding whether to buy an end-of-year model, new car, or used car in Kansas City. If you like to change your vehicle to a new model every few years, then buying a new car instead of an end-of-year model might be a better deal overall.
And if you plan on keeping your vehicle for years, a used car for sale at Auto Bank will be considerably cheaper and most of the depreciation will have been paid for by the first owner.
If this is the final year a vehicle will be sold, more considerations come into play. If the vehicle is still relatively high in demand, you may find the price is actually higher and end-of-year models are not a good deal.
If the vehicle isn’t in high demand and is being discontinued, you can certainly find low prices. However, a discontinued model will be a relatively hard sell when it comes time to upgrade. And it may be harder to find parts down the line for a car that’s been discontinued.
Be sensible and do your research
End-of-year cars can look like a great deal, but as discussed, there are a lot of caveats to consider. Used cars for sale in Kansas City at Auto Bank typically offer much bigger savings. You can check out the used cars on offer at the Auto Bank used car lots at E. Truman Road and East Front Street in Kansas City.