New Year’s deals on cars

Reporter: Andryanna Sheppard
Published: Updated:

New Year’s Eve and New Year’s Day are historically the best days to get a new or used car.

You’re more likely to get more discounts and keep lots of money in your wallet, if you aren’t picky about the selection or new cars available.

According to insurance company Progressive, at the end of each year dealerships are trying to get rid of the rest of the 2023 models on the lot. You may also see a New Year’s Eve or Day deal. Plus, people are trying to make their end-of-the-month and quarter quotas.

If you’re looking for a used car, you might see more right now since people are selling their old cars to get new ones over the holidays.

Progressive notes that an increase in supply can lower the price. There’s also less demand in the winter months, so you may have the upper hand when negotiating.

Keep in mind that interest rates are through the sunroof, making the average monthly payment on a used car about $530 and around $730 for a new one, according to an Experian report.

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