Best Used Cars on Black Friday
Okay, maybe Black Friday isn’t quite dead . For example, it might be a good day to get a discount on a used car. A recent report showed that Black Friday closed 33% more deals than the daily average. In fact, this percentage was higher than on any other holiday.
Car sales website iSeeCars analyzed the price history of over 40 million used vehicles from 2013 to 2015. Veterans Day, Columbus Day, and Thanksgiving were good days to find used cars, but Black Friday topped the list. You can see their full list of the best days to buy in the infographic below, and the following list shows the top 10 used cars to buy on Black Friday according to above average price percentages.
- Hyundai Elantra: offers 230.6% more than the average for the day
- Hyundai Sonata: 158.9%
- Ford F-150: 156.3%
- VW Jetta: 115.6%
- Chevrolet Silverado 1500: 115.4%
- GMC Sierra 1500: 84.7%
- Chevrolet Camaro: 74.8%
- Honda CR-V: 69.8%
- Chrysler Town and Country: 63.5%
- Honda Accord: 62.0%
In an email, they detailed their methodology:
The top ten cars to buy on Black Friday included cars from the last 5 years (2011–2015) with at least 750 vehicles sold that day. For each model, the percentage of cars sold at least five percent off on Black Friday was compared to that averaged over the 2013-2015 period. The models were ranked by the percentage difference between the Black Friday percentage and the average percentage.
Interestingly, they also found that, overall, dealerships offer even better discounts on the first day of the month than on the last. Prices were 8.5% above average on the first day, compared to 5.6% on the last day. Site CEO Fong Li explained:
“A sales month at a dealership usually ends within a few days of the next calendar month. Thus, sales made on the first of a month can be included in sales of the previous month … As with the end of the year, dealers are probably trying to make some last minute sales to meet their monthly targets. ” Likewise, the fifth day of the month was the worst day to trade, most likely because it always fell at the start of a new selling period.
Of course, your own experience may differ, but it is interesting to see how these conclusions stack up. For more information, check out the infographic below or follow the link.