When Is the Best Time to Buy a Car? 6 Must-Read Facts!

When is the best time to buy a car? At first, this question might be intimidating, but it doesn’t have to be. 

When is the best time to buy a car? The image shows a male hand giving a car key to a female hand
auto business, car sale, transportation, people and ownership concept – close up of car salesman giving key to new owner or customer over auto show background

Buying a car is a significant decision that involves various considerations such as timing, pricing, and market trends. Finding the best time to buy a car can greatly impact the deal you secure and the overall satisfaction with your purchase.

When is The Best Time To Buy A Car?

So, when is the best time to buy a car. The short answer is that you can get a good deal nearing the end of the calendar year. Given that car dealerships have an excess stock and new cars are coming in, you can get better deals in November and December. It’s even better when car sales have been slow.

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At the same time, the end of the month might also be important for the experienced car buyer. While this has changed over time, it’s possible to get a discount on the sticker price at month’s end, but there’s no guarantee. 

When is the Best Time to Buy a New Car?

When it comes to purchasing a new car, timing can play a crucial role in getting the best deal possible. One of the best times to buy a new car is during the end of the year, as many dealerships offer attractive end of the year deals to clear out existing inventory and make room for new models.

Additionally, keeping an eye on the best times for new car model releases can also help you score a great deal. Manufacturers often release new models during specific times of the year, which can lead to discounts on previous models to make space for the latest releases.

It’s essential to consider the optimal calendar year for car shopping based on factors like model updates, dealership promotions, and market demand to ensure you make a well-informed purchase.

Another great time to buy a new car is when there’s a new generation coming in. These technological changes mean that the previous model is considered somewhat obsolete, which directly impacts its price. 

If we want to answer when is the best time to buy a car, there’s also inflation and how much it has affected the car’s price.

So, what months do people buy cars the most? We’ve done the research. 

The following image shows the best time of the year to buy a car. The behavior also indicates that January is a bad month to get a good deal on a new car. Moreover, the first three months can be the worst time to buy a vehicle, new and used. 

United States monthly vehicle sales by type through May 2023 When Is the Best Time to Buy a Car? 6 Must-Read Facts!

With that being said, you can also see that December has a better performance. But, something else might catch your attention, and it’s that  May is a great month to buy a car. That’s because of Memorial Day and the discounts that it brings. 

So, if you’re looking for a car and can’t wait until December, May could be the best month to buy a car, so that you can get a good deal on a car that suits your needs. 

When Is the Best Time to Buy a Used Car?

Buying a used car presents its own set of opportunities for savvy consumers. Understanding model year considerations is key when purchasing a used car, as older models may come with lower price tags but could lack the latest features.

Let’s use the same logic that we applied before, but this time to used cars. After all, the car you want might  be discontinued, leading you to consider only used vehicles. 

As new cars come into stock, dealerships will not only have a surplus of unsold new cars, but also used cars that buyers traded in. The worst thing any dealership wants is packed car lots.

So, they will go their extra mile to sell them. When is the best time to buy a car? When there are plenty out there.

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To this sense, the same applies, and December is the best time to buy a used car. However, you could also get a great deal on used cars at the beginning of the year. This is because dealerships are looking to sell off their inventory. 

Opting for a used car at the end of the model year can also lead to substantial discounts as dealers look to move inventory. It’s important to differentiate between new or used cars to assess which one aligns best with your budget and preferences.

Car prices drop when there’s surplus, so it’s always ideal to have a pulse on what’s going on, which also means being on top of the dealerships. Answer the question “when is the best time to buy a car?” also depends on you.

Where to Find the Best Deals at a Dealership?

Dealerships play a crucial role in the car-buying process, and understanding dealer pricing can help you negotiate a better deal. Securing the best car deal requires research, comparison shopping, and being prepared to walk away if the terms are not favorable.

The MSRP is the Manufacturer’s Suggested Retail Price and it’s the manufacturer’s recommendation for what a vehicle should sell for. This isn’t a guarantee and the price on the windshield might not be the one you pay, for better or worse. 

You can negotiate the MSRP, and it might require some research. Check out if there’s surplus, a new line coming along, or any similar discounts. This is essential for negotiating the final price. 

Keep an eye out for special sales events and promotions at dealerships, which can offer additional savings or incentives that make your purchase more cost-effective.

Which Days of the Week Are Ideal for Car Buying?

Choosing the right day to buy a car can make a difference in the deal you get. While there isn’t a definitive best day of the week to buy a car, aiming for end-of-week deals and discounts might work in your favor as dealers may be more willing to negotiate as the week draws to a close.

Timing your purchase strategically by taking advantage of weekly fluctuations in demand can help you secure a better price and potentially save money on your car purchase.

This has changed over time, as new vehicles have become much more common, and dealerships now work on a more ample schedule. While December might be the cheapest month to buy, there is no one best day to buy. 

What Are the Best Holidays to Buy a Car?

Many car shoppers wonder about the best holidays to buy a car to maximize savings. Developing shopping strategies for holidays can give you an edge in negotiations and enable you to take advantage of best holiday sales and offers available at dealerships.

Timing your purchase around specific holidays such as Black Friday, Labor Day, or Memorial Day can lead to significant discounts and promotions that make buying a car during these times highly advantageous.

Closing Thoughts on When Is the Best Time To buy a Car

So, do you want to know when is the best time to buy a car? We have the answer.

Deciding the best time to buy a car requires a blend of market knowledge and strategic timing. Whether you’re in the market for a new or used car, the end of the calendar year, particularly November and December, emerges as an optimal period for potential savings, thanks to dealership incentives to clear inventory for new models.

However, May also presents an attractive alternative with Memorial Day sales offering considerable discounts.

For those considering used cars, similar logic applies. The influx of new cars and trade-ins towards the year’s end also means dealers are keen to sell off used inventory, making December a prime time for used car shopping. Yet, the start of the new year can also yield deals as dealerships aim to start strong.

Ultimately, the best time to buy a car might vary based on individual circumstances, market trends, and inventory levels. Staying informed about dealership promotions, end-of-model-year opportunities, and holiday sales can significantly influence the quality and price of the deal secured.

Whether choosing the end of the year, leveraging holiday sales, or capitalizing on model year changes, timing your purchase can lead to significant savings and satisfaction with your new or used car.

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