When is the best time to buy a car
Updated: Jun 19
If you're in the market for a new car, it's important to understand when the best time to buy is. With inflation and high vehicle prices, finding a good deal can save you a significant amount of money. While there's no magic formula for getting a steal on a car, timing can play a major role. Typically, the end of the year is a great time to buy as salespeople are eager to meet their quotas and may offer steep discounts. But, it's not just the end of the year that can be advantageous - holidays and the beginning of the week can also be prime times to get a good deal. In this blog, we'll dive into the best times to buy a car and explore some tips to help you get the best deal possible.
End of the month or quarter
While there are several factors to consider, the end of the year, month, and model year tend to be the most advantageous times to make a purchase. Car dealerships have sales quotas that are broken down into yearly, quarterly, and monthly goals, which often converge towards the end of the year. Additionally, salespeople may have bonus incentives to meet their goals, making it a great time for buyers to negotiate a better deal. Keep an eye on the end of the model year as well, when manufacturers begin releasing new versions of their cars. Waiting for the newest release can often result in a better deal on an older model. Holiday weekends
While end-of-the-year deals are typically the best, there are also specific holidays that car dealerships use to attract customers. Presidents Day is a popular choice for manufacturers to promote spending after a slow start to the year. Memorial Day, which marks the beginning of summer, can be a great time to buy a car as dealerships look to cut prices to make way for next year’s models. Fourth of July sales can also be enticing, but it might be worth waiting for end-of-the-year discounts if you’re not in a rush. Labor Day is a busy time for car buying, accounting for over 2% of all new car sales in a year, according to former economics and industry insights manager at Cox Automotive, Zo Rahim. Black Friday and New Year’s Eve are also great times to shop for cars, with salespeople eager to meet their quotas and earn bonuses. Keep an eye on these holidays and you might just find the car deal you’ve been looking for. The perfect time to purchase a car is when you're financially ready. Regardless of the season, it's essential to have a clear understanding of your budget, research the car you want to buy, and arrange your financing. By doing this, you'll have the confidence to negotiate a fair price and avoid impulse buying, ensuring you make a smart investment.. If you've made the decision to buy a car and are looking for the best possible deal, I'm here to help. As an expert, I can provide guidance and advice to help you find the right car that fits your needs and budget. I can also assist you in negotiating a fair price, ensuring that you get the most bang for your buck. Don't hesitate to reach out for assistance in your car-buying journey.