The best time to buy a new car might simply be when you need it most. But if your purchase is not urgent and maximizing savings is your goal, there are some dates on the calendar it certainly helps to know about.
The following are all smart times to visit the dealership and shop for a deal.
Late in the month
The last week and particularly the last weekend of the month are often when a dealership’s staff needs to sell the final cars that enable them to meet their sales goals. They may more willing to negotiate on the price of a vehicle as a result.
End of the model year
Late summer, around Labor Day, is when most new-model-year cars start to reach dealership lots. With dealers keen to free up space for them, it’s a great time to shop for discounted current-model-year vehicles. While Labor Day sales events were an early opportunity to check out such offers, dealers will be aiming to move outgoing models throughout the fall.
The car-buying stars align the day after Thanksgiving. There are deep discounts to be had from automakers on the outgoing models, dealerships may offer their own reductions, the holiday weekend falls at the end of the month, and a huge marketing buzz now surrounds the whole event. Many carmakers use Thanksgiving to kick off holiday season sales that run until the end of the year.
End of the calendar year
With both manufacturers and dealers looking to finish the year on a high, this is one of the best times to find a deal, particularly on “leftover” outgoing-model-year vehicles. December has the highest discount on the manufacturer’s suggested retail price, at 6.1 percent on average, and the highest incentives in the year, according to Edmunds.
Early in the week
Weekends are understandably busy times for dealerships, so timing a visit early in the week, on a Monday or Tuesday, when they are quieter and demand is lower, may help you get a vehicle at a good price.
Get a step ahead with preapproved financing
When the time is right for you to purchase a car, Road Loans may be able to streamline your process. You can apply for financing by completing our online application in just minutes and receive an instant loan decision.
With preapproval, RoadLoans customers are able to walk into the dealership with the confidence of a cash buyer, already knowing exactly how much they have to spend on a vehicle, and negotiate a great deal.
Just download and print your loan packet and visit your recommended dealership to shop for your next car, truck or SUV the same day. We work with a national network of auto dealerships that are able to show our customers select, high quality new and used vehicles.