LPT: This January Could Be an Excellent Time to Buy a Used Car, insha'Allah

As-salamu alaykum - normally January is a good month to shop for a used car (I’ll explain why), but this January looks especially promising. Here’s the reasoning in a simple way: The January pattern: - The Trade-In Rush: Dealers run big end-of-year promotions to hit annual targets, which produces lots of trade-ins. It usually takes about 3–4 weeks for dealers to process and list those cars, so the trade-in surge often peaks in mid-January. - Less competition: After holiday spending and year-end promotions, many buyers slow down, so retail traffic and demand for big purchases drop in January. Why this year might be better than usual: - A big increase in lease returns: After shortages in recent years, leasing activity recovered and many 36-month leases are now ending. Industry estimates indicate roughly hundreds of thousands more lease returns will reach the market this year compared to last. That’s especially true for EVs, where lease returns are expected to jump dramatically. Dealers may be eager to move used EVs fast because their values can fall quickly. Tips to make the most of it: - Shop toward the end of the month: Sales teams have monthly targets, so they’re often more willing to negotiate in the final week. - Consider certified pre-owned (CPO) cars: With many lease returns coming in, dealers may offer more CPOs that include inspections and limited warranties. - Watch for promotions: Look for deals in the last week of January and around MLK Day sales. May Allah make your search easy and grant you a good, trustworthy vehicle. If you want, tell me the kind of car and budget you have and I can suggest what to watch for.