How to Get Unsold Cars for Cheaper

Wondering how to get unsold cars for cheap? Dealerships often have excess inventory in the form of off-lease vehicles, which can give you deep discounts on late-model used cars. Why would you ever pay full price for a car? Savvy consumers know how to get unsold cars for cheap. Looking to save big? Here’s how you can snag these discounts and get a great used vehicle at a lower price.

Unsold Trucks

What if I told you that unsold trucks could also be purchased at a discount? For those looking to buy a truck or SUV, you’re in an even better spot. Gas prices have dropped on average from 2022 to 2023, but prices are still much higher compared to 2020. Who knows what 2024 has in store? Truck prices have risen 50% faster than the average car price according to Cars.com.  And even though truck prices continue to rise quickly, people are still interested! Searches for new trucks rose by 4% in 2023 compared to the year before. Trucks may not be discounted nearly as much as cars since they’re highly sought after, but that doesn’t mean you can’t snag one at a lower price.

Unsold Cars

During the recession, leasing vehicles became an incredibly popular option. When leasing, a buyer pays to use the vehicle for a specified amount of time instead of purchasing it with a car loan. After the term is up, the vehicle is returned to the dealer. In 2023, lease vehicles accounted for 20% of car sales. Compare that to the third quarter of 2021 when 26% of cars were lease vehicles. With a typical lease period maxing out at 3 years, that means that there will be more off-lease vehicles than average hitting the market.

That’s a massive amount of inventory for dealerships to absorb. When cars sit on a lot for an extended period of time, dealers cannot purchase new inventory. This means they’ll want to sell cars quickly. Older used cars tend to sell well because of the lower prices, but the real discounts are on the newer, off-lease, unsold cars that are only a year or two old. That’s the stock dealerships struggle to sell. When I went to buy my off-lease car, I acted uninterested—I could have it or leave it. After a short period of time, I left with a discount of $6,000.

Unsold Luxury Cars

The luxury market is an especially great place to buy a new late-model, off-lease vehicle. Who needs the newest when you can get a used BMW for a fraction of the cost? It’s better to buy an off-lease luxury vehicle because you don’t experience the initial depreciation of the car. Not to mention, leased autos are returned with low mileage and an impeccable maintenance record. You may even be able to find one that still has the original factory warranty. Before you buy anything, make sure to see any service records, check the vehicle for interior wear and tear, and ask about any alterations.

Dealers

The most important thing to mention is that every dealership is different. Deals will vary based on the amount of stock on the lot. Dealerships that have both new and used cars are good places to start. However, before you settle on one car, you should always shop around and find new quotes. By searching online, you can find amazing deals on the perfect car can be found just around the corner. Buying new unsold cars for cheap is easier than you might think.