The main factor pushing up used car prices in recent weeks is scarcity, according to Edmunds’ Caldwell, who said nearly all of the regular sources of used cars have been disrupted by the pandemic. Fewer new car sales in the past year means fewer trade-ins. People are extending their leases.

Marketing refers to all activities a company does to promote and sell products or services to consumers. Marketing makes use of the “marketing mix,” also known as the four Ps—product, price, place, and promotion.

Ron Montoya, senior consumer advice editor at Edmunds.com, wrote in April that car pricing and inventory will likely be affected through “at least the second half of 2021.” “This means that 2021 will not likely be a normal year in terms of the discounts you may encounter,” Montoya wrote.

A combination of increased used car demand and lack of supply – mostly due to dampened new car sales reducing the number of part exchanges – has already seen used prices hit unprecedented heights in 2021. ‘With demand likely to outstrip supply, values are likely to stay strong over the summer months.

According to new market analysis published Cap HPI – the people who provide car and van valuations for the motor trade as a whole – secondhand car prices are set to fall in the second half of 2021.

While others expect dealers to offer deals and incentives in the very short term, but when demand grows, so will prices. Dealers and manufacturers may well look to recuperate this quarter’s losses by increasing the prices of vehicles from the end of lockdown until the foreseeable future.

Will used car prices drop in third lockdown? Used car values will hold firm throughout lockdown 3.0 unless click and collect is cancelled by the government, warns Cap HPI. Derren Martin, head of valuations for the firm, said used car prices are not likely to ‘fall off a cliff’ during the current restrictions.

The end of the financial year in April is also a good time to go looking for a deal, as businesses are keen to make as much out of each year as they can. This means that Spring is a great time to go car shopping. In March and September in the UK, the new number plates are launched.

The months of October, November and December are the best time of year to buy a car. Car dealerships have sales quotas, which typically break down into yearly, quarterly and monthly sales goals. And all three goals begin to come together late in the year.

Top 10 Best Months of The Year

• December. It’s the most wonderful time of the year.
• July. This month seems to be most kids and teens favorite month because it is the only month you are free from school throughout the entire month.
• June. June is a lovely month.
• October.
• May.
• August.
• April.
• March.

To wrap it up, February is the most boring month in the US.

Those born in September are, apparently, the smartest out of the entire year. According to Marie Claire, a study published in the National Bureau of Economic Research found that there’s a clear correlation between the month during which you were born and how smart you are.