Is there a best time of the year to buy a car? Is it like buying plane tickets in which dealers mark down some models at different times of the year?
Cars are expensive and getting more expensive every year. Features that were once part of the most basic models to help keep the prices low are no longer available. Good luck finding a new car with crank windows, manual locks, or even a key lock for the door. These features simply don’t exist in the modern automotive market.
Which times of the year offer the best chance to get a great deal on a car? Let’s discuss.
Wait until the end of the month
Most companies have monthly sales goals and when they seem to be falling short of those goals with only days left in the month, markdowns and promotions begin. A small loss in profits is worth the extra revenue from sales. It’s customary to see end-of-month sales at car dealerships to help struggling sales staff close the deals necessary to reach their goals for the month. Even if they don’t have advertised deals and sales, you could probably talk a salesperson into a good deal on a vehicle because they need your sale to help reach their target for the month.
Forget the weekends
The quietest days of the week could be the best time to buy a car. With 52 weeks in a year you have at least that many opportunities to visit your local dealership, have your questions answered, and negotiate a great deal. Going to the dealership during the busiest days of the week won’t give you an advantage; in fact, that would have the opposite effect. If you want more time to discuss pricing, take test drives, and review financing options, the slower days of the week, such as Mondays, will work best.
Buy your car before you must
In addition to buying a car during the slower days of the week, it’s a good idea to buy a car when you don’t have to have one to continue getting around. If you want until you’re in desperate need of a vehicle that will become your major form of transportation, you’ll be at a disadvantage and might settle for the first vehicle you drive. Instead, start shopping for a car long before you need one and learn more about your options and how you can get the best deal.
Holiday weekends are great
There’s always an exception to the rule, and one of the best times to buy a car happens to be when there’s a three-day or holiday weekend. Most retailers, including car dealers, have promotions and special offers during these holidays, making it easier for you to close a great deal without the need to negotiate the vehicle’s price. Typically, Memorial Day is the best time to buy, and Labor Day comes close with some great deals just before the model year changeover.
Buying in the fall is ideal
If you want to know what the best time of the year to buy a new vehicle, the answer is still the same as it always has been. Buying in the fall makes a lot of sense and is the time when the new models begin to arrive in dealer showrooms while models from the current model year are collecting dust and taking up space. In order to make room for this new inventory, many dealerships will mark down their previous model-year vehicles and offer them at excellent rates. This is when you want to buy a vehicle at a dealership, especially when you want to buy a new model.
The end of the year could work for you
The last two weeks in December can be a great time to buy your next vehicle. This is the culmination of the end of everything for the year, month, and quarter, which means sales teams are making a strong push for their sales goals, making it the right time for you to buy a vehicle. Many dealers also offer holiday incentives and promotions that go along with Christmas and New Year’s to entice customers to buy vehicles during this final push at the end of the year.
What’s the best time of the year to buy a car? As you can see, there are several great options that afford you a great chance to get the best deal possible. Which time of the year will you take advantage of to close the deal on your next vehicle purchase?
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