When it comes to buying a new car, timing is crucial in order to get the best deal possible. Knowing when to buy can save you a significant amount of money, whether you’re in the market for a new or used vehicle. In this article, we will explore the best times to buy a car, including the best month, time of day, day of the week, and holidays. We will also discuss the worst times to buy a car and other factors to consider when seeking the best deal.
### The Best Month to Buy a Car: Late December
Late December is the absolute best time of year to buy a new car. Dealerships are striving to meet their yearly, monthly, and weekly sales goals, which can result in incentives and rewards for the dealer. This means they are more likely to be motivated to close a deal and offer better prices to customers.
### The Best Time to Buy a New Car
– **End of the Month**: Car dealerships have monthly sales quotas, and salespeople have bonuses tied to these goals. At the end of the month, a salesperson may be more willing to negotiate and lower the price of a car to meet their sales quota.
– **End of the Day**: Negotiating a purchase price at the end of the day can work in your favor, as salespeople are often eager to make a sale rather than letting a customer walk away.
### The Cheapest Day to Buy a Car: Monday
Studies have shown that Mondays are the best day of the week to buy a new car. Dealerships may be less busy at the beginning of the week, and salespeople may be eager to kickstart their sales goals, resulting in better deals for buyers.
### The Best Holidays to Buy a New Car: Black Friday and New Year’s Eve
Black Friday and New Year’s Eve are great days to buy a new car, as dealerships often offer special deals and incentives. New Year’s Day can also be advantageous, as dealerships may have year-end closeout deals that extend into the new year.
### The Worst Times to Buy a New Car
– **Early in the Month**: Salespeople are less motivated to make sales at the beginning of the month.
– **Saturday**: Saturdays are typically the busiest days at car dealerships, and salespeople may have limited time to negotiate deals.
### Other Factors to Consider
– **Local Rebates**: Check for local rebates or incentives specific to the dealership’s location.
– **Previous Model Year**: Consider purchasing the previous model year, as dealerships often offer discounts to clear out old stock.
In conclusion, timing is crucial when buying a new car. By knowing the best times to buy, you can potentially save a significant amount of money on your purchase. Whether it’s waiting until the end of the month, shopping on a Monday, or taking advantage of holiday deals, planning your car purchase at the right time can lead to substantial savings in the long run.