New? Create an account
Enter your registered email address below to receive password reset instructions.
Please check your inbox and follow the password reset instructions.
You can now save favorites
Access favorites on any device
Get price alerts
Shopping cars within 250 mi of your nearest EchoPark.
Share this article
Published March 01, 2024
Share this article
Researching car prices is the number one activity conducted by online car shoppers. It's no secret that price is one of the main factors used car buyers look into and find most important.
If you are one of the buyers who puts affordability at the top of your must-haves when shopping for a car, understand how we’re able to sell cars for $3,000 below the competition.
When searching for a used car, many wonder when is the best time to buy a used car? At EchoPark, we’re committed to providing our lowest no-haggle price, every day of the year.
Keep reading to learn everything you need to know about how EchoPark provides the happiest car buying experience and why they offer the lowest prices year round!
When YOU are ready! At other used car dealerships, December is generally known to be the best time of the year to buy a car in the industry.
Car prices drop closer to the end of the year because many dealerships are trying to clear inventory to meet dealer sales quotas to close out the year. Salespeople earn incentive pay based on these quotas and are willing to reduce their margin on the sale to meet these goals.
At EchoPark, we have Experience Guides, not salespeople. Our Guides are paid on a salary vs. a commission. We do this to incentivize them to provide the happiest car-buying experience to every customer, at any time throughout the year!
As tax season arrives, it brings not just financial clarity, but the potential to unlock exciting possibilities. This year, consider utilizing your refund as an investment to empower your transportation needs and ignite new adventures—a meticulously inspected, high-quality, used car.
You have two options when using your tax return to purchase a new car. First, a substantial down payment can significantly reduce the monthly car payments, freeing up resources and ensuring long-term financial comfort for you. Alternatively, using the refund to purchase the car outright, will achieve the liberating satisfaction of true ownership—no monthly obligations, just open roads, and spontaneous journeys.
At EchoPark, we go beyond simply selling cars, we curate the happiest car buying experience to identify the best used car that aligns with your needs and within your budget.
Model cycles are another great lever to consider when buying a used car. As next year's vehicle lineup comes out, values for the current year models will adjust, providing a slight price adjustment at the end of the model year.
As a car's model year passes the car value depreciates. Most shoppers will be interested in buying the newest used models, but considering older models can obtain lower pricing for the same reliability and similar features.
Model years typically end around Labor Day for vehicles made in the United States. For imported vehicles, the model year ends in either October or November.
You can expect new car models to arrive at dealerships in September or October, which can put slight downward pricing pressure on existing used car inventory.
Slower-selling models or models about to be redesigned or discontinued might provide better pricing. Do your research on end-of-the-year models to see if any of these used vehicles interest you. Always take advantage of end-of-cycle pricing. The two cycles to keep in mind for maximum savings are:
An end-of-car-design cycle is when a vehicle manufacturer redesigns a car model completely. The older cars become 'outdated' and pricing is adjusted accordingly. It takes more time for this to be realized across used car prices, but will ultimately impact them over time.
End-of-design cars won't have the latest styling or technology that comes with the redesign but are generally priced more aggressively, yielding real savings. If you are more of a value hunter than a flashy car buyer, research cars that are about to be redesigned.
End-of-car-life cycle refers to when a car is discontinued. Cars depreciate quickly with end-of-car-life cycles, but they are still worth considering if you want a long-term car.
Be sure you know why a vehicle is getting discontinued. Undependable and low-performance car models might be unsafe. If a car is discontinued due to lack of interest, it is most likely still a great car.
For example, SUVs have increased in popularity, forcing automakers to discontinue their sedans. A sedan might still be a great discontinued car model to consider for a lower price.
Taking a macro-level view of the used car market, we have seen price volatility reduce as the industry recovers from inflation, labor, and supply chain issues.
Buyers may still see higher vehicle prices than pre-pandemic, but prices are beginning to normalize.
Used vehicle prices have dipped since hitting record levels. For used vehicles in 2023, the average price was $29,472, with prices forecasted to revert lower in 2024.
From the start of the year, transaction prices for vehicles have been down by more than 3%.
We’re committed to selling our vehicles up to $3k below the competition. Whether the used car market is volatile or not, we’re focused on delivering the happiest car buying experiences by having the best quality cars, at the best value. We believe our Experience Guides care the most and are committed to helping customers find low-mileage cars that are always up to $3K less than the competition.
In addition to knowing the best time to buy a used car, it's important to follow used car buying tips. Not only will these help you get the best deal, but you will experience a smoother car-buying process.
Things like online listings, vehicle history documents, and more can simplify used car buying. Follow these tips before heading to your local dealership:
We know the average price for a used car in 2023 was $29,472, so it's important to create a budget near this amount to get a used car in good condition.
Use the average amount to determine how much you can afford as a down payment and how much you'll have to pay monthly. You should aim to put down around 10% of the total car price to decrease the finance amount.
An auto loan calculator can help you run the numbers on term lengths and payments. Considering total cost of ownership is important as well. A used car might look like a great deal on the surface until costs add up in the long run.
Most people take out a car loan instead of paying for a car in cash. Keeping your savings for insurance, registration, maintenance, and possibly future repairs is better than using it to buy a car.
When you finance a used vehicle, try getting preapproved for a loan to simplify the buying process and put you in a strong position at the dealership.
Choosing the right used car can be overwhelming, especially if your options are more limited. Take time to think about how you want to use the car and which features are important to have.
For example, if you have a family, you'll want a car with enough room for everyone and adequate cargo space.
Safety is often a top priority for car buyers. Check out the Insurance Institute for Highway Safety for crash tests to understand vehicle safety.
Every used car you see is going to be different. Even the same vehicle model could have different miles and damages.
Narrow down the vehicles you would be interested in by making a list of must-have features. Search for models at your local dealership that match your checklist.
A vehicle history report provides buyers with information about a vehicle's past. This information includes:
Some reports can show whether or not the required maintenance was completed on time and if the work was done at the dealership or third-party automotive shop.
Used cars sold through EchoPark come with a free CarFax report, warranty information, and other important vehicle details. This ensures you know everything you need to know about the reliability of a car.
In addition to this report, EchoPark ensures their vehicles are in tip-top shape prior to being listed as available for sale. All cars go through an intensive 190-point inspection and reconditioning process before being moved to the lot.
Even upon viewing the report, it's still important to see a car in person if you are seriously considering making a purchase.
Any car shopper should always test drive their vehicle before buying, especially if the car has been previously owned. This will alert you to any potential problems a vehicle might encounter and help you decide if it's worth buying.
When test driving, keep these things in mind:
If there are specific features that are important to you, make sure you test them out when you see the car in person as well. For instance, if you want a great sound system, crank up the music to see how it sounds on the road.
Before or after test driving a car is also a great time to ask important used car buying questions.
If you are car shopping late in the year or at a time when a car seller is offering discounts, you might not go in thinking about how some dealerships manage negotiations. At EchoPark, you can keep your mind at ease knowing the list price is the final price. We provide our lowest price up-front, without any negotiations. We don’t like to haggle; we’re so committed to removing this from the buying experience, that we list our used cars up to $3,000 below the competition, so you know what you’re going to pay.
Whether you decide to shop at EchoPark or another used dealership, it’s important to come prepared knowing what you’re willing and able to pay. The following tips can help you determine what that number is:
Salespeople might throw a lot of numbers at you, so ensure you take the time to process what they are saying. If it helps, write the number down. Always confirm the numbers discussed and don't forget to ask about fees before committing to a deal. “Out the door” price is what you’re going to be writing on the check. Make sure you understand what this is going to be.
If you are a first-time car buyer, bringing a trustworthy friend or family member with you to buy your used car is always a good idea. Having someone there with your best interests in mind mitigates the risk of impulse buying and ensuring you stick to your planned budget.
At EchoPark, you don’t need to worry about negotiations. Our Experience Guides will work with you to find the best used car that fits your budget and will avoid any pushy sales tactics or haggling. We’re here to provide the happiest car buying experience out there. Period.
It’s always the best time to buy a used car at EchoPark.
Get nearly new vehicles at a fair price any time of the year at EchoPark! Take your time checking out our national inventory and build your list of potential dream cars that you can purchase for the long haul.
Now is the best time to search for used car deals. Conquer the world of car buying with EchoPark. Find a dealership near you and talk to one of our Experience Guides today!
