Dealerships hoping to achieve year-end sales goals are jumping at the chance to improve their numbers and get 2013s off their lots. They hope to lure shoppers into showrooms with low APR rates and high cash-back offers. While the best deals are reserved for this year's models, used cars have also seen a significant drop in price. Last year the average price of a used car was $9,145. This year the price has dropped to $7,631.
The last day of the year isn't always the best time to go car shopping. From 2005 to 2007 automakers offered deep cuts in July, hoping to make room for newer model years. In 2011 cars were cheapest in February, before the earthquake and tsunami crippled manufacturing for Asian automakers.