Buying a pre-owned luxury car in Toronto is an intelligent way to get the premium features, high performance, and heightened style of a luxury car—for less. But when it comes to scoring the best deal, timing is everything. The used car market, much like any market, has its own seasonality that can influence pricing, inventory and negotiating power
End of the Year: December Offers and Year End Clearance
In Toronto, you can get great deals on used luxury cars during December. With the end of the year approaching, dealerships are looking to unload inventory to ensure they have adequate space for new inventory. This can make for deep discounts, financing offers and deals on used inventory — particularly high-end models that may have been idling on the lot for a while.
Also, in the luxury sector, as owners of new cars trade them in to get even newer ones, more high-end pre-owned cars become available. For used-car shoppers who like a good deal, the holiday season may indeed be a golden opportunity to find a well-maintained used luxury model at an affordable price.
March and April: Tax Season Rush of Inventory
Spring, especially in March and April, is also an excellent time to buy used luxury cars in Toronto. At a time when many consumers are receiving tax refunds, car shopping is more affordable and dealers are stocking up with new inventory and competitive pricing. It’s also close to model year changeover time, so a lot more trade-ins and off-lease stuff comes into the market.
Buyers can expect to find a greater variety of gently used cars — many coming off two- or three-year leases — which means that spring is prime time for shoppers in the market for late-model luxury cars with low mileage and in great shape.
End of Quarters: March, June, September, December
Toronto Car dealerships, notably luxury vehicles dealers selling new and used vehicles face quarterly sales goals. To hit those marks, dealers may be more willing to bargain with the last days of March, June, September and December in mind for hauling out big discounts and incentives.
This is one sales cycle where you can game the system, especially if you are flexible on a given brand, features or trim level. Keep an eye out for “end-of-quarter” sales events, you might find great deals on certified pre-owned luxury cars and even those that are a year or two old with warranty remaining.
Avoid Peak Seasons
The summer is usually not the right time to shop for used luxury vehicles in Toronto. Warmer months are high season for car buying, especially May through August, when demand spikes and prices may not be all that negotiable. If you’re a buyer this time of year, you’re probably going to encounter sterner competition and less flexibility in negotiating.
Likewise, inventory may be scarce when shopping early in January because dealerships are still just getting over year-end sales and ramping back up on stock.
Conclusion
If you’re looking to buy used luxury cars in Toronto, the timing of when you buy can save you thousands of dollars. By going after year-end clearances, spring inventory surges and end-of-quarter deals, you get the best of choices (variety) and prices. Patience, research and perfect timing can enable you to buy and drive away with the luxury car of your dreams and without spending a small fortune.