Purchasing a new vehicle is one of the biggest financial decisions you’ll make. For first-time car buyers, the idea of negotiating with a salesperson can be rather intimidating. But, like many other products on the market, getting the best price on a new car is all about timing. Going car shopping when the season is just right can even the playing field for buyers who know how to negotiate with a salesman and for the first time buyers too.
For example, those in the market for a new lawn mower will find purchasing one during the height of the spring/summer cutting season can mean paying a lot more. Smart shoppers know their wallets would benefit greatly by waiting a season or two. The same can be said for car shopping.
Which months offer the best new car deals?
Throughout the year, some car dealerships bombard television, radio, and the internet with numerous ads hoping to grab consumer interest. This ramps up during tax return season. Some discounts can be expected during both spring and summer, but the best time for car shopping is when the leaves start to drop.
Car manufacturers roll out new model vehicles on a yearly basis. Because of this, auto dealers can be anxious to offload the inventory they couldn’t move during the hot summer months to make room for shiny new ones. This makes the months of September and October two of the best times of the year for car shoppers.
By the time November and December roll around, some car dealers will be in a mad rush to empty their lots.
But the best deals may still be just around the corner. By the time November and December roll around, some car dealers will be in a mad rush to empty their lots. Not only are dealers in a scramble to get rid of the prior year’s models, salesmen are also eager to earn some financial bonuses by doing so.
With the approach of Christmas Eve and New Year’s Eve, potential car buyers willing to brave the cold winter weather would be hard-pressed to find a better time to take advantage of some impressive discounts.
Buying a New Car on a Holiday
While cashing in on discount during (or even days before) New Year’s Eve has always been a no-brainer for car buyers, dealers offer decent discounts during almost every holiday period.
Car dealerships offer some of the best deals during holiday weekends, like Independence Day, Labor Day, Memorial Day, Thanksgiving, and (although not an official holiday) Black Friday.
The beginning of the New Year, January 1st, is also a good day to be in the market for a new vehicle.
The Best Day of the Week to Buy a New Car
For consumers, picking the right day to buy a new car is just as important as the month. While it’s easy to walk into a dealership anytime and drive out with a new vehicle, smart shoppers know that’s it’s better to wait until either the first or last of the month.
There tends to be a much smaller crowd at the start of a new month which means the salespersons can be anxious to serve the first person that walks in. Those same salespeople will also be eager to achieve their monthly quota because of the potential for a bonus. Putting off a purchase until the last day or two of the month can give the customer the advantage when it comes down to negotiating with a salesman who has incentives on his/her mind.
…smart shoppers know that’s it’s better to wait until either the first or last of the month.
Avoid the weekend, as most foot traffic is on Saturdays and Sundays. Scheduling to buy a new car on a slow Monday or Tuesday morning (if at all possible) would be a better strategy. According to TrueCar.com, discounts on Mondays and Tuesdays usually average around 8%. Thursdays are equally good as well. Compare that to Saturdays and Sundays which, on average, only see a 7.77% and 7.49% discount respectively.
What Car to Buy and When
Seeing a convertible cruise down the hot asphalt is a common sight in the summer. But for those in the market to buy one, the right time to do so is when the temperature starts cooling.
During the fall and winter, both convertibles and sports cars are out of season and demand for them is much lower than in warmer months. With less demand for such vehicles, dealers are more than eager to sell them for lower prices.
On the flip side, sales of all-wheel drive automobiles tend to heat up during colder weather. Customers in the market for a new pickup truck or sedan with four-wheel drive would be wise to shop during the summer.
One of the most important pieces of advice every car buyer needs to know is to do your homework before shopping. Thanks to the internet, consumers can research the cars in the area and find the best prices for the vehicle they’re looking for before heading to the dealership. Knowing what you want beforehand and how much you should be expected to pay will make the task of buying a new car a lot less daunting.