The I See Cars website compared specific times of the year to see when consumers can find the most savings on a used car.
In Houston, MLK Day is a day in which shoppers are most likely to see big discounts. In fact, the beginning of the year is generally a good time to buy. President's Day is also a big deal day, along with the months of January and February.
For the study, I See Cars analyzed 32 million used car sales and looked for savings of at least five percent, amounting to over $1,100 off the price of the average used car.
Demand for used cars rose during the COVID-19 pandemic. When the pandemic started, auto plants initially shut down operations, creating shortage of new-car inventory, sending more people to the used car market.
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