When is the best time to buy a car? If you are planning to buy a new set of wheels, it’s best to know the perfect time to score a deal. Whether your goal is to get the best price or the latest car model, finding the right timing will surely give you an advantage.
Regardless of your reason for buying a new car — it’s your first ride, or you need a bigger vehicle for the family — the timing will greatly affect the whole car deal, especially the price of the car. And of course, we all want a deal that’s not going to break the bank.
Thus, before you purchase that car you have in mind, here’s a guidepost to help you decide when is the best time to buy a car, and some other tips and tricks you can take note of! I’ve also included some must-have items that will hundred percent help you in maintaining your precious new set of wheels!
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When is the best time to buy a car?
The best car deals do not only appear once a year. You can look forward to several days, months, holidays, and seasons to score a great car deal!
Many people consider New Year’s Eve the best car shopping day. Black Friday, the 4th of July, and other commonly celebrated holidays also offer notorious car savings.
October, November, and December are the most discounted months. On the other hand, new car models often debut during the late summer or the beginning of the fall. During this time, you can compare which has a better deal between the outgoing car models and new models.
Early days of the Week
If you are in a rush to get a new car because your old ride is giving you a hard time, and you can’t wait for those holidays and seasons, you can at least wait till it’s Sunday or Monday.
Contrary to popular belief that weekdays and Saturdays are the best days to get a car deal, 2020 studies by TrueCar show that buying a car on Sunday or Monday can save shoppers from 8.1% up to 10%. These are the best savings you can get compared to all other days of the week.
Since many are on a weekend trip during Sunday, and Monday is not as busy as the other days of the week, auto dealers will have more time to negotiate with you, and you can take this chance to score a better deal. On the other hand, you have to remember to avoid buying on Thursdays since it offers the lowest savings for the whole week.
End of the Month/Quarter
Sales managers need to reach a sales quota, and so timing your purchase at the end of the month or end of the quarter will work to your advantage.
They will most likely give you enough discount to get you to close the deal because they will be able to earn more money when they successfully reach their quota for the month or the end of the quarter.
Take note of the end of the quarter months such as December, March, June, and September. You can smartly take advantage of these times because you and your salesperson both have a goal you want to get.
Model changeovers often happen by the end of the summer or early fall. By September and October, car dealers want to replace the leftovers with new ones. If you are not specifically searching for the latest car models, you will most likely find a desirable deal during these times.
But of course, you should also take note of this if you’re looking forward to the newest and latest models. Comparing the prices of the outgoing and new models will help you better decide if the updated features and change in gas mileage of the new version are really worth it or not.
Being aware of this time frame is certainly a smart move whether you want to save a lot from the outgoing year models or enjoy the added features of incoming year models.
Public Holidays/ Long Holiday Weekends
Cashback deals, zero-percent loans, special financing rates, and other incentive programs are always present on every holiday celebration. These holiday promotions are not something you want to miss, especially if you want to save a lot!
Also, don’t forget to take note of holidays such as President’s Day, Memorial Day, 4th of July, Labor Day, Black Friday, Christmas Eve, New Year’s Eve, and New Year’s Day.
These holidays are some of the best times for you to schedule your car purchase. However, if these holidays are still too far away for you, other dealerships also offer great deals during other holiday celebrations like Martin Luther King Jr. Day. Check for other three-day weekend holidays because dealerships love to entice potential car buyers with discounts during the long weekend.
The Worst Time to Buy A Car
Buying a car that does not break the bank certainly depends on the timing. And to ensure that you won’t regret your purchase, never consider closing the deal and buying a car when:
- You haven’t done your research yet – Apart from knowing the best time to buy a car, you should have also done your research about the car you want or need (its price, features, and overview of ownership costs).
- You haven’t locked in your financing yet – Know what you can afford and your credit score. You can get a preapproved loan at a bank or credit union before you make a trip to the dealer so you can compare the interest rates and see what loan you’ll get approved of.
- The car you want is in high demand – You have a lower chance of getting a good and affordable deal if the car you have in mind is in high demand because manufacturers and dealers have the upper hand in these situations.
Ready to Purchase Your New Car?
The best time to buy a car will always depend upon you and your current situation. After all, there are lots of incentive programs and good deals all year-round that will help you save thousands.
Just remember to only buy a car when you are completely done with your research and that you are one hundred percent financially ready.
Must-Have Essentials For Your New Car
Buying your first set of wheels? Don’t know what car essentials you’ll need for your new vehicle? Below are some highly recommended items you can easily order online which can help you maintain your ride and make your driving experience easier, more comfortable, and most importantly safer!
Plus, if you need a gift for a car lover in your life, these car essentials will also make a great present for any kind of occasion!
- 4-in-1 Car Vacuum Cleaner
- Roadside Assistance Emergency Kit
- Eating/Laptop Steering Wheel Desk
- Car Windshield Sun Shade
- Car Registration and Insurance Holder
- Car Vehicle Headrest Hooks
- Car Diffuser
- Car Trunk Organizer
- Emergency Escape Tools
- Car Tablet Holder
- Pet Seat Cover for Cars
- Energizer Jumper Cables for Car Battery
- Car Cleaning Tools Kit
- Soft Faux Sheepskin Seat Belt Shoulder Pad