Anytime you plan to buy a car, it is a huge investment; therefore, knowing the best time to make the purchase is critical. The difference in timing may help you save huge bucks on your deal. Here’s a guide on the best time of year to buy a car and why:
1. End of the Year—October to December
The best period to buy a car is at the end of the year, more precisely from October to December. During this month, it is the period when dealers try to make annual sales targets. Often, drive a huge bargain out of desperation, resulting in a better offer with huge discounts, which attempts to clear the old inventory and bring in the new models.
Why it’s the best time: Dealers will be more inclined to give out incentives—cashback, rebates, or low-interest financing—to push sales before the year ends.
2. In Conclusion, End of the Month
If patience isn’t your strong suit, consider, at least, holding out until the end of any month to buy a car. Salespeople are also often working toward monthly quotas and, if they are short and it’s nearing the end of the month, they might also offer slightly better deals to close more sales.
Why It’s the Best Time: This pressure to reach sales goals can spur additional discounts or more favorable financing terms.
3. Holiday Sales Events
Holidays, including Memorial Day, Labor Day, Black Friday, and even New Year’s Eve are all high-volume car-buying days. Dealerships typically offer holiday-specific deals on those days of the year when they either mark down some of their prices and/or tend to have special deals that are only available for that holiday.
Why it is ideal time: Holiday sale events offer limited-time offers with extra savings, making it the smart time for a purchase.
4. The Model Year-End
When manufacturers introduce the new models, dealers must find room for the last year’s models. The end-of-model-year sales is typically in August to October. You can find great deals on last year’s models during this time.
Why it’s best time: You can save loads from a somewhat older model that only has little difference from the newest version.
5. Weekdays
In case of weekdays, the number of customers is less compared to weekends, especially on Mondays and Tuesdays. A large number of customers visit car dealerships at weekends, so the sales representatives are more available to approachable clients then. Why it can be the best time: Since traffic will be tamer, there are more chances for you to look around and maybe snag a better deal.
Conclusion
Timing can make a big difference in what you pay for your car. The best times to buy: end of the year, end of the month, end of the model year, holiday sales, and also weekdays. Timing around these times will help you leave with more money in your pockets.