Securing the best possible deal on a new car often involves more than just visiting your local dealership during a sales event or honing your negotiation skills. While these tactics can certainly be beneficial, truly maximizing your savings requires a strategic approach to timing your auto purchase. The day of the week, the month, and even the time of year can significantly influence the availability of attractive car deals. Understanding these factors is key to becoming a savvy car buyer.
Decoding the Best Time to Buy: Key Factors
To pinpoint the optimal moment to purchase a vehicle, it’s essential to consider several timing-related elements that can impact pricing and dealer incentives.
Day of the Week: Weekdays Win
For a more favorable car buying experience that includes better deals and enhanced service, weekdays are generally preferable to weekends. Ideally, aim for the middle of the week for your dealership visit.
While weekend car shopping might seem more convenient for many due to work schedules, it comes with disadvantages. Saturdays and Sundays are typically the busiest days at car dealerships. The increased customer traffic on weekends often means salespeople are less inclined to offer substantial discounts. With numerous potential buyers present, the pressure to negotiate deeply diminishes.
Furthermore, the dealership’s finance department can become overwhelmed during peak weekend hours. This can lead to longer wait times for loan approvals and potentially less favorable interest rates or financing options.
However, not all weekdays are equally advantageous for deal-seeking shoppers. Fridays tend to be busier as some weekend shoppers start their car search early. Similarly, Mondays can also see higher traffic due to customers carrying over from the weekend who didn’t finalize a purchase.
If your local car dealerships are closed on Sundays, Mondays are especially likely to be busy. In such cases, it’s best to postpone your car shopping until at least Tuesday to potentially find better deals on both new and used cars.
Time of Day: Evening Advantage
Counter to the common saying “the early bird gets the worm,” car shoppers might find better opportunities later in the day. Visiting a dealership towards the end of the workday could increase your chances of securing a better deal. Salespeople, eager to conclude their day, might be more willing to expedite the negotiation process and offer a favorable price to close a sale quickly.
This strategy tends to be most effective during slower periods of the year or month. When sales are less frequent, salespeople have a stronger incentive to negotiate competitive prices. As they approach the end of their daily, monthly, and yearly sales targets, they are less likely to let potential buyers leave without making a purchase. This end-of-day timing can be particularly beneficial when combined with end-of-month or end-of-year sales pressures.
Time of Year: Seasonal Sweet Spots
Seasonality significantly influences car buying, presenting various times throughout the year when customers can find more discounts, incentives, rebates, and cash-back offers.
Holiday Car Sales Bonanza
Holidays are synonymous with retail deals, and car sales are no exception. Dealerships often leverage the celebratory atmosphere of special events to attract buyers. This can translate into various savings opportunities, from markdowns on sticker prices and cash-back incentives to enhanced trade-in values.
Keep an eye out for special deals and discounts during prominent holidays, three-day weekends, and seasonal sales events, including:
- Presidents Day (mid-February): Often marking the start of spring sales events.
- Memorial Day (late May): Kicking off summer with significant savings.
- Independence Day (early July): Mid-summer deals to boost sales.
- Labor Day (early September): Clear-out sales before new models arrive.
- Black Friday (late November): Part of the major retail sales season.
- Christmas through New Year’s Day (late December and early January): Year-end clearance events.
Beyond national holidays, many dealerships also participate in local events and recognition days to engage with their community and attract local buyers. Monitoring dealerships’ social media accounts and websites for seasonal sales announcements can reveal opportune times for savings. Any occasion to celebrate often presents a chance to find a car deal.
Best Months: September to December Goldmine
The best month to buy a car can depend on whether you are interested in the latest models or seeking deals on current models nearing the end of their production cycle.
September and October are prime months for car buying as prices typically decrease when dealerships start receiving the new model year vehicles. As showrooms fill with next year’s models (usually arriving in September and October), the current year’s models become less desirable, creating a favorable environment for bargain hunters. Dealerships are motivated to sell off the older inventory to make space for the new arrivals.
September, particularly around Labor Day, stands out as an excellent time to get a deal on a virtually new, end-of-year car. While these models might lack some of the newest, often non-essential features, this works to your advantage if your priority is a significant price reduction. Discounts can be even more substantial if the model you’re interested in has undergone a major redesign for the new model year, as dealerships are even more eager to clear out the previous design.
Researching the arrival timelines for new models will prepare you to act decisively. Armed with this information, you can confidently make a competitive offer on an outgoing model at the most opportune month or time of year.
October, November, and December continue the trend of deep discounts. The late fall months are strategically important for both dealerships and automakers as they approach the end of the calendar year.
As the year concludes, dealerships are focused on maximizing sales of current-year models and boosting overall profitability. While discounts are offered throughout the year, December often presents the most compelling prices and incentives.
Simultaneously, salespeople are driven to meet both their annual and December monthly sales quotas. This pressure can make them more willing to offer the best possible deals to close sales, thereby securing their sales commissions and year-end bonuses.
The primary challenge during December shopping is that many buyers are aware of these year-end deals, potentially leading to limited stock of specific makes and models. December car buying is most effective if you are flexible and willing to consider different vehicles to capitalize on unbeatable prices.
Month-End Magic
The final weeks of December are particularly critical for dealerships due to the year-end closeout. However, the pressure to meet quotas exists at the end of every month throughout the year.
Generally, the last few days of any month are considered the best time to buy a car. Aim to visit dealerships towards the month’s end, while avoiding busy Saturdays and Sundays if possible. Conversely, discounts in January and February tend to be less significant compared to other months.
Used Car Timing: Unique Opportunities
If you are in the market for a used car, the beginning of a new calendar year can be advantageous. January and February often present favorable conditions for used car buyers. Following the surge of new car purchases and trade-ins at the end of December, dealerships find themselves with an increased inventory of used cars they need to sell. This situation often leads to dealers being more willing to offer deals to reduce their used car inventory and free up lot space.
Additionally, the fall holiday season, spanning October through December, also sees many people trading in their older vehicles when purchasing new cars. This influx of trade-ins can result in attractive deals on used cars towards the end of the calendar year.
Times to Avoid: When Car Deals are Scarce
Conversely, some periods are less conducive to finding great car deals.
Weekend Rush: Steer Clear
Car shopping on Saturdays and Sundays can place you in competition with larger crowds for salesperson attention. Higher demand during weekends often translates to less negotiating leverage and fewer opportunities for significant deals. Planning your dealership visits for weekdays is advisable.
Early New Year Slump: January and February
Aside from holiday sales events, January and February are typically slower months for car sales. While dealerships might still offer discounts during these months, price reductions on new cars are generally the smallest of the year during this period.
Summer often unofficially marks the beginning of the car sales season for the upcoming model year. If time is on your side and you are not in urgent need of a new car, waiting until at least May, or ideally September, can significantly increase your chances of securing a better price.
Choose Your Best Time to Buy a Car
Ultimately, determining the best time to buy a car involves considering your priorities – whether it’s obtaining the deepest discounts or driving away in the very latest model. Assess your budget and overall financial situation to ensure your car purchase aligns with your financial comfort level.
By strategically timing your purchase and understanding market dynamics, you can significantly enhance your chances of driving away with your desired vehicle at the best possible price.
