Used-car prices expected to drop up to 20% in 2023 as inventory stabilizes

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Used-car prices expected to drop up to 20% in 2023 as inventory stabilizes
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Car shoppers have faced sky-high prices for more than a year in part due to high demand and tight inventory. But 2023 may finally bring some relief.

December typically has the best deals, with the biggest discounts available on New Year's Eve,. But there are other good times to buy a vehicle if a consumer needs to buy sooner.time to score a deal on a new car.

If buyers can wait, they can expect to see lower prices next year than today, Jominy said. But shoppers don't necessarily have to wait to get a decent price because many automakers are now starting to offer incentives."If you need a car now, you should get a car now," Preston said."You can certainly help yourself by doing a lot of research and figuring out what you want, what you need. And then sort of finding alternatives.

Experts said shoppers should cast a wide net and be flexible when searching for a vehicle. Buyers should also negotiate at the dealership, using the sticker price as a starting point. (

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