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There are traditional times of the year when car dealers hold huge inventory reduction sales. President's Day and just before the new model year launches are two such times. After these sales, dealerships are inundated with used cars they have taken in trade.
Frequently, an inventory reduction used car sale will follow on the heels of the new car sale so the dealer can keep the inventory on the lot moving. If you're in the market for a reliable used car, this is the time to strike for the best deal.