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Buying a new car is always exciting! Whether you’re upgrading to something more reliable, looking for the latest tech, or just in the market for a fresh set of wheels, timing your purchase can make a big difference. In fact, waiting for the right time to buy can help you save money, get a better deal, and avoid unnecessary stress. But when exactly is the best time to pull the trigger on that new ride?
In this post, we’ll break down the best times of the year, month, and even day to buy a new car.
1. The End of the Year: December Is Prime Time
If you’re flexible about when you buy your car, December can be a golden opportunity. Dealers are eager to clear out their 2023 inventory to make room for the new 2024 models. Most of the best deals and biggest discounts happen during this time. There are a few reasons for this:
- End-of-Year Sales Events: Car manufacturers often offer special promotions at the end of the year, which can include cash rebates, low financing rates, and even seasonal discounts.
- Monthly Quotas: Dealerships usually have monthly sales quotas to hit, and if they’re behind, they’re more likely to offer great deals to meet those numbers.
- Model Year-End Clearance: As new model year vehicles start arriving in dealerships, the outgoing models lose some of their value, even if they’re brand new.
Tip: To get the best offers in December, try shopping during the last week of the month or just before Christmas. This is when dealerships are most motivated to close deals.
2. End of the Month & End of the Quarter
Car dealerships often have monthly or quarterly sales goals. If you time your purchase right before the end of the month or the end of the quarter (March, June, September, and December), you may get a better price. Salespeople are often more willing to offer deals to hit their quotas during these periods, especially if they’re trying to hit a target for bonuses or incentives.
Pro Tip: Late afternoons on the last day of the month can be a sweet spot, as salespeople might be more eager to close a deal as the clock winds down.
3. Weekdays vs. Weekends: When to Shop for the Best Experience
While weekends are the busiest time at car dealerships, shopping on a weekday—especially Tuesday or Wednesday—can have its perks. Here’s why:
- Less Traffic: You’ll have more time with a salesperson, and there will be less competition for attention from other customers.
- Better Deals: With fewer customers around, salespeople might be more willing to negotiate and offer a better deal since they aren’t under pressure to serve a crowd.
That said, if you work a standard 9-to-5 schedule, it can be tough to take advantage of weekday car shopping. But if you can, it’s definitely worth considering.
4. Shop Right After a New Model Launch
When a new model of a car comes out, the price of the previous year’s model can drop significantly. Even though the older model may be identical in features, technology, and performance, it’s often marked down to make room for the new version. If you don’t mind missing out on the newest bells and whistles, buying last year’s model can save you thousands.
Pro Tip: This can also apply to used cars. Often, when a new model hits the market, used car prices for the same model drop as well.
5. Holidays & Special Sales Events
Certain holidays bring big sales events where car dealers often offer the best discounts. Key times include:
- Labor Day (early September)
- Black Friday (the day after Thanksgiving)
- Memorial Day (late May)
- Fourth of July
- New Year’s Eve
These sales events can coincide with holiday promotions or special financing rates. If you’re ready to buy, shopping around these major holidays can increase your chances of finding a great deal.
6. New Car Debuts
In addition to seasonal and year-end discounts, consider timing your purchase around when new car models are set to debut. If you’re not interested in getting the latest model, but want the best deal, waiting for a new model release can be a good strategy. As the newer model becomes available, the previous year’s version usually drops in price.
Also, be on the lookout for “refresh” models, where manufacturers make minor tweaks to existing vehicles. Even though these tweaks don’t drastically change the car, it’s enough for prices of the outgoing versions to go down.
7. Your Personal Timing: When Is the Right Time for You?
Of course, the best time to buy a car also depends on your personal situation. Here are a few personal factors to keep in mind:
- End of a Lease: If you’re coming off a lease, you might have an option to buy your leased vehicle at a great price, or you may be eligible for early trade-in options.
- Budgeting & Financing: You’ll want to make sure you’re financially ready to commit. You’ll want to pay attention to interest rates and financing deals, especially when auto loan rates are favorable.
- Vehicle Life Cycle: If your car is getting older or has been experiencing more maintenance issues, it’s smart to upgrade before the cost of repairs outweighs the cost of a new car.
8. The Best Time of Year for Specific Types of Cars
While December is a great time to buy most types of vehicles, certain vehicles tend to be better priced during other times of the year:
- Convertibles & Sports Cars: Late fall and winter, when demand is lower.
- 4WD and SUVs: Late summer to fall, as dealers prepare for the arrival of new models.
- Family Cars: Spring, as families begin thinking about their summer road trips.
Bottom Line: Be Strategic, but Don’t Wait Forever
While there are plenty of good times to buy a new car, don’t overthink it too much. If you find a deal that feels right, whether it’s the end of the month or not, it might be worth going for it. The best deal is the one that works for you, not necessarily the one that happens to be during the “perfect” time.
That said, knowing when the best opportunities arise can help you get more bang for your buck. So, take some time to do your research, shop around, and keep an eye out for key sales events to maximize your savings.
Happy car shopping!
