When is the Best Time to Buy a Car?
End of the Model Year Sales
One of the best times to buy a car is during the end of the model year sales. Typically, car manufacturers release new models in the fall, which means dealerships are looking to get rid of their old inventory. This is where you can score some great deals on new cars from the previous year’s model.
Dealerships offer these discounts to make room for the new models and avoid being stuck with unsold inventory. You can find discounts ranging from a few hundred to several thousand dollars during this time. However, keep in mind that the selection of models and features may be limited as dealerships are trying to clear out their old stock.
If you’re not picky about the latest features and models, buying a car during the end of the model year sales can save you a lot of money. Just make sure you do your research beforehand and compare prices from different dealerships to get the best deal possible.
Another great time to buy a car is during holiday weekends. Dealerships often run special promotions and sales during holidays like Memorial Day, Labor Day, and the Fourth of July.
These promotions usually involve discounts on cars or special financing offers, which can save you a significant amount of money. In addition, dealerships may offer extra incentives like cashback or free upgrades to entice buyers.
Holiday weekends are also a popular time for people to buy cars, so it’s important to do your research and arrive early to beat the crowds. It’s also a good idea to have a pre-approved financing offer in hand before you start shopping, so you can negotiate from a position of strength.
Overall, holiday weekends can be a great time to buy a car, especially if you’re looking for specific models or features. Just be prepared to face more competition and potentially longer wait times.
Winter months can be a surprisingly good time to buy a car. Since fewer people are shopping for cars during the winter, dealerships may be more willing to negotiate and offer discounts to attract buyers.
Additionally, some dealerships may be eager to move inventory during the slower winter season, which can lead to lower prices and more flexible financing options.
It’s also worth noting that four-wheel-drive and all-wheel-drive vehicles tend to be more popular during the winter months, so dealerships may offer promotions on these types of vehicles.
However, there are some potential drawbacks to buying a car during the winter. For example, test-driving cars in snowy or icy conditions may be more difficult or even impossible. Additionally, selection may be more limited due to the slower season.
If you’re willing to brave the winter weather and do your research, buying a car during the winter months can be a great way to save money. Just be prepared to negotiate and take your time finding the right vehicle.
While weekends may be the most convenient time for many people to shop for a car, it’s worth considering midweek shopping as well. Dealerships tend to be less busy during weekdays, which means you may be able to negotiate a better deal with the salesperson.
In addition, dealerships may be more willing to spend time with you during the slower weekdays, answering your questions and providing more information about the cars you’re interested in.
Furthermore, since dealerships may have fewer customers during the week, you may have an easier time getting a test drive scheduled or finding the exact model you’re looking for.
Overall, midweek shopping can be a great option for those who have the flexibility to shop during the week. Just make sure you do your research beforehand and come prepared with any questions or concerns you may have.
End of the Month or Quarter Deals
Another good time to buy a car is at the end of the month or quarter when dealerships are looking to meet their sales goals. If a dealership hasn’t sold enough cars by the end of the month or quarter, they may be willing to offer discounts or other incentives to meet their sales targets.
In addition, salespeople may be more motivated to close deals at the end of the month or quarter to meet their own sales targets and earn bonuses. This can work to your advantage if you’re looking to negotiate a lower price or get additional features or services included in your purchase.
It’s important to note that end-of-month deals may vary from dealership to dealership, and you may need to do some research or negotiation to get the best possible deal. However, if you’re flexible and willing to negotiate, the end of the month or quarter can be a great time to buy a car.