My home base is the great Northeast. As such, this past winter I thought summer would never come. But all that snow eventually melted, and with it so have new and used car prices. Summer is a great time to buy a car.
Prices in the used car market begin to drop this time of year for a couple of reasons. Demand declines after tax season and its flood of money from tax refunds. Consumers wait until their returns are filed and IRS checks issued to make down payments.
But the bigger reason is supply grows this time of year. Private sellers get more active, and more people are buying new cars, which increases the used car supply.