Buying a car is a significant investment, and getting the best deal requires strategic timing. While there are always deals available, certain times of the year, month, and even specific days offer better discounts and incentives. If you are looking to maximize your savings, here’s a detailed breakdown of the best times to buy a car.
Best Time to Buy a Car: A Comprehensive Guide
1. End of the Month, Quarter, and Year
End of the Month
Car dealerships operate on monthly sales quotas. Toward the end of each month, sales representatives and dealerships strive to meet their targets. If they are behind on their goals, they are more likely to negotiate better deals, offer additional incentives, or provide discounts to close sales before the month ends.
End of the Quarter
Most car dealerships operate on quarterly sales goals (March, June, September, December). The last days of each quarter tend to be ideal times to buy a car because dealerships may have more motivation to meet sales quotas, making them more willing to negotiate.
End of the Year (Best Time Overall)
The absolute best time to buy a car is in the last two weeks of December. Dealers are eager to clear out inventory before the new year arrives, making way for newer models. Because of this, they offer significant discounts and promotions, often stacking multiple incentives such as cashback offers, low-interest financing, and extended warranties.
2. Best Months to Buy a Car
While the end of the year is the best time to buy a car, certain months offer better opportunities than others:
- October: Many dealerships start clearing out inventory as new models begin arriving.
- November: Deals start ramping up with Black Friday promotions.
- December: The best month for deals due to year-end sales pressure and inventory clearance.
If you are not in urgent need of a vehicle, waiting until these months can help you secure the best price.
3. Best Days of the Week to Buy a Car
- Monday & Tuesday: These are generally the slowest days for dealerships, meaning you can get more attention from sales representatives and potentially negotiate a better deal.
- Friday & Saturday: While these are busy days, some weekend promotions might make it worth visiting. However, negotiating may be harder due to high customer volume.
- Sunday (if dealerships are open): Some dealerships offer weekend deals, but negotiations may be rushed due to limited operating hours.
4. Best Holidays for Car Shopping
Many dealerships offer sales and promotions tied to major holidays. Some of the best holiday periods include:
- New Year’s Eve & New Year’s Day: Dealers are eager to meet year-end quotas.
- Presidents’ Day (February): Often features winter promotions on leftover inventory.
- Memorial Day (May): A popular time for spring sales and new incentives.
- Fourth of July (July): Summer sales events may include rebates and financing deals.
- Labor Day (September): Marks the transition to new models, making it ideal for discounts on outgoing ones.
- Black Friday (November): Some dealerships offer special financing and incentives.
5. When Not to Buy a Car
While there are great times to buy, there are also less favorable times, including:
- Early in the Month: Salespeople are less likely to offer discounts since they have a full month to meet quotas.
- When a New Model Is Just Released: Prices tend to be at their highest when a new model first arrives.
- During High Demand Seasons: If a specific car is in high demand, dealerships are less likely to negotiate on price.
6. Additional Tips for Getting the Best Deal
- Research Prices: Use online car pricing tools (Kelley Blue Book, Edmunds, TrueCar) to compare prices.
- Get Pre-Approved for a Loan: This gives you leverage when negotiating financing terms.
- Consider Certified Pre-Owned (CPO) Vehicles: These can offer great value with extended warranties.
- Be Ready to Walk Away: Dealers are more likely to negotiate if they know you're willing to leave.
Timing is everything when buying a car. While every dealership and manufacturer has unique sales patterns, the best deals typically come at the end of the month, the end of the quarter, and especially at the end of the year. If you can wait until December, you are more likely to score the biggest discounts. However, if you need a car sooner, planning around holiday promotions or month-end sales can still help you save significantly. Happy car shopping!
