Securing the best possible deal on a new car is a goal for every savvy buyer. While negotiating skills and dealership sales events can play a role, understanding the optimal timing for your purchase can significantly amplify your savings. The calendar, from the day of the week to the time of year, holds considerable influence over car prices and available deals. To maximize your financial advantage, let’s delve into the crucial timing factors to consider when buying a car.
Best Days of the Week for Car Deals: Weekdays Win
To unlock better car deals and receive more attentive service, steer clear of weekend car shopping and aim for weekdays, ideally mid-week.
Alt: A wide shot of a car dealership lot filled with various new cars on a sunny day, suggesting a large inventory and potential buying options.
While weekends might seem like the most convenient time for car shopping due to personal schedules, they are often the least financially advantageous. Saturdays and Sundays typically see peak traffic at dealerships, creating a less buyer-friendly environment.
With dealerships bustling with potential buyers on weekends, salespeople are less likely to offer substantial discounts or engage in deep negotiations. The high volume of customers reduces the pressure on salespeople to make individual deals, potentially costing you money.
Furthermore, dealership financing departments can become overwhelmed during weekend rushes. This can lead to longer wait times for loan approvals and potentially less favorable interest rates or financing terms. The sheer volume can mean less personalized attention and potentially rushed financial arrangements.
However, not all weekdays are created equal. Fridays can also be busy as weekend shoppers try to get a head start. Similarly, Mondays might see increased traffic from customers who didn’t finalize purchases over the weekend.
If your local dealerships are closed on Sundays, Mondays are likely to be particularly busy. In such cases, it’s best to postpone your car shopping until at least Tuesday to experience a less crowded and potentially more deal-friendly atmosphere.
The Best Time of Day to Buy a Car for Savings: Later is Better
Contrary to the “early bird gets the worm” adage, car shopping might reward those who wait until later in the day. Arriving at the dealership towards the end of the workday can potentially lead to better financial outcomes. Salespeople, eager to conclude their day, may be more inclined to expedite the negotiation process and offer quicker, more attractive deals to close a sale and head home.
This strategy tends to be particularly effective during slower periods of the month or year. When sales are less frequent, salespeople are often more motivated to negotiate competitive prices. As the end of the day approaches, they face the dwindling opportunity to meet daily sales targets. This urgency can translate into a greater willingness to make a deal that benefits your wallet. They won’t want to risk losing a sale simply because of prolonged haggling when the clock is ticking.
Annual Timing: Months and Seasons for Optimal Car Buying
Seasonality significantly impacts car deals, with certain times of the year offering a greater abundance of discounts, incentives, rebates, and cash-back offers. Understanding these seasonal trends is key to financially smart car buying.
Holiday Car Sales Events: Capitalizing on Celebrations
Holidays are synonymous with retail promotions, and car dealerships are no exception. Many dealerships leverage the celebratory atmosphere of holidays to attract customers, translating into various financial incentives. These can range from reduced sticker prices and cash-back offers to enhanced trade-in values for your current vehicle.
Keep an eye out for special deals and discounts during popular holidays, extended weekends, and seasonal events. Key holidays known for car sales events include:
- Presidents Day (mid-February)
- Memorial Day (late May)
- Independence Day (early July)
- Labor Day (early September)
- Black Friday (late November)
- Christmas through New Year’s Day (late December and early January)
Beyond national holidays, many dealerships also participate in local events and community recognition days to draw in local buyers. Monitor dealerships’ social media and websites for announcements of seasonal sales. If there’s a local celebration, there’s a good chance you’ll find a corresponding car deal.
Best Months to Snag a Car Bargain: September to December Sweet Spot
The optimal month to buy a car can depend on whether you’re seeking the latest model or a deal on a current model nearing the end of its production cycle. However, for financial savings, the late fall and early winter months generally offer the most opportunities.
September and October: As dealerships prepare for the influx of next year’s models, typically arriving in September and October, prices on current year models begin to decrease. The arrival of newer models makes the outgoing year’s vehicles less desirable in the eyes of some buyers, creating a prime opportunity for bargain hunters. Dealers are eager to clear their lots to make space for the incoming inventory, leading to more significant discounts.
September, particularly around Labor Day, stands out as an excellent time to secure a deal on a practically new, end-of-year car. While these models might lack some of the very latest, often non-essential, features of the newest releases, this works in your favor if your priority is a substantial price reduction. If the model you’re interested in has undergone a significant redesign for the new model year, your potential discount could be even greater.
Research model release dates to anticipate when new inventory will arrive at dealerships. This knowledge empowers you to make a competitive offer on an older model at the most financially advantageous time.
October, November, and December: The late fall months continue the trend of deep vehicle discounts. This period is crucial for both dealerships and automakers as they approach the end of the calendar year.
As the year concludes, dealerships are under pressure to maximize sales of current-year models. They also aim to finish the year strong and boost overall profitability. While discounts are offered throughout the year, December typically sees the most compelling prices and incentives.
Simultaneously, salespeople are highly motivated to reach both their annual and December monthly sales quotas. This increased pressure can make them more willing to offer the best possible deals to close sales, directly impacting their commission earnings and year-end bonuses.
Alt: Close-up shot of a car salesperson handing over car keys to a smiling customer, symbolizing the finalization of a car purchase and customer satisfaction.
The main potential drawback of December shopping is increased competition from other buyers also seeking year-end deals. This could mean limited inventory of specific makes and models. However, if you are flexible with your vehicle choice and prioritize an unbeatable price, December car shopping can be highly rewarding.
Monthly Timing: End-of-Month Car Deals – Every Month Counts
While December stands out due to year-end pressures, the principle of end-of-period quotas applies throughout the year.
The end of most months: Generally, the last few days of any month represent a financially advantageous time to buy a car. Dealerships operate on monthly sales targets, and salespeople are eager to meet these quotas as the month concludes. This pressure can translate into better deals for buyers. However, try to schedule your dealership visit to avoid busy Saturdays and Sundays within those end-of-month periods. Conversely, January and February typically see less steep discounts compared to other months, so they might be less optimal for maximizing savings.
Best Time to Buy a Used Car: Winter Months Offer Value
If you are in the market for a used car, the beginning of a new calendar year can be particularly fruitful for finding value.
January and February: Following the surge of new car purchases and trade-ins at the end of December, dealerships often begin the new year with a larger inventory of used cars they need to sell. To manage this inventory and free up lot space, they are often more willing to offer better deals on used vehicles during January and February.
Between October and December: The fall holiday season, with its new car sales events, also sees a rise in trade-ins. This influx of used cars can create opportunities to find affordable deals on used vehicles towards the end of the calendar year as well.
What Are the Worst Times to Buy a Car Financially?
Knowing when not to buy a car is just as important as knowing the best times. Certain periods are consistently less favorable for getting a good deal.
Saturdays and Sundays: As previously mentioned, weekend car shopping means contending with larger crowds and less salesperson motivation to offer deep discounts. High demand on weekends often leads to less favorable pricing. Plan your car shopping for weekdays to avoid this competitive environment.
Early in the New Year (for new cars): Aside from specific holiday sales events, January and February are typically slower months for car sales. While dealerships may still offer discounts, data indicates that price reductions on new cars are generally the smallest of the year during these first two months.
Summer often marks the unofficial start of the new car sales season for the upcoming model year. If you have flexibility and aren’t in immediate need of a new car, waiting until at least May – or ideally September – significantly increases your chances of securing a better price.
Choose Your Best Time to Buy a Car, Financially Speaking
Ultimately, the “best” time to buy a car financially depends on your individual circumstances and priorities. Consider what’s most important to you – maximizing savings, driving the very latest model, or a balance of both. Assess your budget and overall financial situation to ensure any car purchase aligns with your financial well-being.
When you’ve strategically timed your purchase and feel confident it’s the right financial moment, remember to also explore financing options that complement your smart timing. Research loan rates and consider pre-approval to further strengthen your financial position when you visit the dealership.
