Timing may not be everything when it comes to buying a new car, but it’s definitely an important factor. While the manufacturer’s suggested retail price (MSRP) for a model generally stays constant over a model year, the actual price you pay at a dealer can vary. Spoiler alert: There is no perfect time to buy a car, no one-size-fits-all magic answer—it depends on a lot of factors, like which car you’re buying, where you’re buying it, and how much demand there is for what you want.And sometimes the decision is made for you. For instance, if your main form of transportation dies or gets totaled in a wreck, you may not have a lot of choice in the buying timeline. But even if you don’t have a ton of flexibility, we’ll arm you with the information necessary to get a good deal on your schedule.Seasonal Trends: When Dealerships Offer the Biggest DiscountsThe end of the calendar year and the end of a model year are two good times to buy.December is a dealership’s last chance to meet or beat sales quotas, either those set internally or manufacturer minimums that determine future allocation—the mix and quantity of certain high-demand models a dealer will be allowed to order and sell. If your plans align with a New Year’s Eve deadline, you may be able to negotiate an attractive price on that new car.Similarly, dealers want to clear out inventory of the previous model year’s cars before the newest versions arrive. Like price drops when a new generation of smartphone is announced, this means waiting a short time can translate to considerable savings.Model years don’t always align with calendar years, however; automakers tend to release new models in the fall, but there’s no hard-and-fast rule here, so it’s best to do your research on when new models will appear in showrooms so you can stalk pricing on the outgoing model. Of course, if you have to have the latest and greatest and the model-year change-over coincides with a major refresh or full redesign, this tip doesn’t apply.Shopping ListSavings can be even better when a model is being discontinued. Once the manufacturer announces that a line is nearing its end, the dealer may be inclined to rid itself of remaining inventory to make room for other fresh stock. The deal can be even better if the automaker stopped building that particular model due to slow sales.Clearing out “old” models often happens as early as summer but can extend into fall. These price reductions may be part of back-to-school promotions, especially when it comes to more affordable models.Key Dates to Mark on Your CalendarIn addition to changing years, many dealer and manufacturer sales events coincide with the same holidays that push consumers toward new appliances. Keep an eye out for price drops coinciding with Presidents’ Day, Memorial Day, Independence Day, and Labor Day. Some dealers even get cheeky and toss out discounts on Mother’s Day, Father’s Day, and even Valentine’s Day or Halloween.You might also see sale advertisements around tax-rebate time in April. This can be hit or miss, though, and people with plump wallets often lead to busier dealer lots, which you might want to avoid.One more calendar-based tip: Dealers often have monthly and quarterly sales goals to meet throughout the year, so dropping in around the end of the month or quarter may grant you some negotiating power. There’s no guarantee that a given dealer is behind its target, so it pays to check in with multiple stores to see whether their calculated loss can be your gain.Off-Peak Times: Save During These PeriodsWhile the time of year is important to getting a good price, the day of the week you head in can also have an effect on the bottom-line cost. Dealers are less busy during normal weekday working hours, so if you can make your trip while everyone else is at the office, the salespeople have more time to work with you. This can lead to better pricing while also reducing the potential to feel like you’re being rushed through the process. Mondays tend to be the least busy, with traffic picking up throughout the week thereafter. This can also allow for more time to take test drives and shop around with different dealers before you make your decision.Personal Timing: Aligning Your Finances and NeedsA great deal isn’t worth much if you don’t have the money to make it happen. It’s important to balance deal-seeking with what you can afford when. Don’t let a sweetheart price result in overextending yourself on the down payment or monthly financing or lease cost.Likewise, if you find yourself carless or needing to trade in your current vehicle for something that better suits your needs—such as commuting or transporting a growing family—it may be necessary to accept the best deal you can find in a short time period. As much as possible, it’s wise to plan ahead if your car is on its last legs or you’re expecting a major life change that will have you in the market for a new vehicle.Tips for Scoring the Best Deals Regardless of TimingSome deals can’t be easily anticipated. In addition to keeping an eye on manufacturer specials, check on dealer sites for their offers. These are often offered on a monthly basis, so take a look at what’s being offered near you on the first of each month.Dealers will also offer incentives to past customers, current brand owners, members of the military, veterans, teachers, first responders, and recent grads. These can come and go throughout the year on no set schedule, so keep your ear to the ground if you’re considering a new purchase.FAQ:
- Is it better to buy a car at the end of the month or year?
In general, yes, these are good times to look for deals, but there’s no guarantee that you’ll get the all-time best price by waiting for the end of a sales period.
- What is the cheapest time of year to buy a car?
The cheapest time of year to buy a car varies by manufacturer, car, region, and dealership. That’s why it’s best to plan ahead and search for deals before you absolutely need a new vehicle, and be aware when deals tend to pop up.
- Do dealerships have better deals during holidays?
Dealerships and manufacturers often run sales events that coincide with holidays, especially those that fall on three-day weekends. Again, it’s not a given that any particular holiday will get you a deal on the specific model you want, but these tend to be great times to be on the lookout for savings.
- Are used cars cheaper during certain times of the year?
Dealers tend to run specials on used cars on holidays, so that’s a good time to seek a good price on something pre-owned. You may also have luck finding a deal on a used car after big new-car sales events, as dealer lots tend to be stuffed with trade-ins from the buyers that took advantage.AdviceEver since David was a wee Car and Driver intern, he has kept a spreadsheet listing all the vehicles he’s driven and tested. David really likes spreadsheets. He can parallel-park a school bus and once drove a Lincoln Town Car 63 mph in reverse. After taking a break from journalism to work on autonomous vehicles, he’s back writing for this and other automotive publications. When David’s not searching for the perfect used car, you can find him sampling the latest in gimmicky, limited-edition foodstuffs.
Source: caranddriver.com
