How To Find Cheap Leftover Cars

Understanding Leftover Cars

Leftover cars are unsold vehicles from the previous model year that remain on dealership lots when new models arrive. These cars are typically identical to the new model year vehicles in many aspects except for minor updates or changes the manufacturer might introduce. Since dealers are eager to sell these models to free up space and resources, they often offer significant discounts.

Best Time to Shop

The best time to shop for leftover cars is typically late summer through fall. This period is when dealerships receive new model year vehicles, creating pressure to sell off the previous year’s inventory. Shopping during these months will give you a broader selection of leftover models and better bargaining power.

Benefits of Buying Leftover Cars

1. Price Reduction: The most apparent advantage is the cost savings. Since dealers need to make room for new inventory, they are more willing to offer discounts on the previous year’s models.
2. Low Mileage: These cars are new, with minimal mileage that usually comes from test drives or being moved around the lot.
3. Full Warranty: Buying a leftover car means it still comes with the manufacturer’s full warranty, starting from the date of purchase.
4. Latest Features: Although a year older, many leftover cars still offer the latest technology and features, especially if the model hasn’t undergone significant changes.

How to Find Leftover Cars

1. Research: Start by researching which models are likely to have leftovers. Some models that are less popular or have overestimated sales forecasts are more likely to be available as leftovers.
2. Online Inventory Checks: Use dealership websites to check inventory. Most dealers list their available cars online and specify model years, which makes it easier to spot leftovers.
3. Contact Dealerships: Call or email local dealers to ask specifically about leftover inventory. Some dealers may even have vehicles stored off-site, so it’s crucial to ask explicitly.
4. Expand Your Search: Don’t limit your search to local dealerships. Sometimes driving to a dealership a few hours away can result in better deals.
5. Negotiation: Be prepared to negotiate. Since the dealership is motivated to sell these cars, they might be open to negotiation, especially if you are informed and come prepared with research on the car’s value.

Financing and Other Considerations

When looking for leftover models, consider the financing options available. Dealerships often offer better financing rates or incentives on new cars, including leftovers, to encourage purchases. It’s essential to compare these rates with other financing sources like banks or credit unions to ensure you get the best deal.

Furthermore, be aware of the trade-offs. For instance, if the car underwent a significant upgrade in the new model year, the technology in the leftover model might be outdated. Also, consider the car’s resale value; since it’s technically a year older once you drive it off the lot, depreciation might be faster.

Conclusion

Finding a cheap leftover car can offer significant savings and value if done correctly. By understanding the best times to shop, knowing how to find and identify these cars, and being prepared to negotiate, you can take advantage of these opportunities. Always consider the total cost of ownership, including depreciation, insurance, and potential interest rates on financing to ensure that your new car fits both your needs and your budget.