Buying a car is a big financial commitment, and if you’re looking to get the best deal, timing can make all the difference. While many people think that buying a car is just a matter of choosing the right make, model, and features, timing your purchase strategically can save you thousands of dollars.
Whether you’re shopping for a brand-new car or a reliable used vehicle, the right season can bring major benefits. In this article, we’ll take you through the best times of the year to buy a car, considering factors like dealership sales, end-of-year discounts, and even seasonal inventory changes.
Why Timing Matters When Buying a Car
When you think about buying a car, the first thing that probably comes to mind is choosing the right car. But equally important is when you buy it. Timing your purchase can affect the price you pay, the selection available, and even the financing terms you’re offered. Dealerships have sales targets, and automakers want to clear out inventory to make room for new models. These factors create opportunities for you to buy a car at a lower price.
Understanding the seasonal nature of car sales gives you the power to plan your purchase and maximize your savings. So, let’s dive into the best times of the year to make your purchase!
1. End of the Year: November to December
The end of the year is one of the best times to buy a car, especially if you’re looking for deep discounts and attractive incentives. Dealerships and manufacturers are highly motivated to meet their sales targets for the year, and they often offer significant incentives during this period.
Why It’s a Great Time:
- End-of-Year Clearance: As the year comes to a close, dealerships need to clear out inventory to make room for new models. To do this, they often slash prices, offer low-interest financing, or give cash rebates.
- Holiday Sales Events: Many dealerships have special promotions during the holiday season, including Black Friday sales and Christmas promotions. These events often feature unbeatable deals on both new and used cars.
- Manufacturer Incentives: Car manufacturers typically offer year-end bonuses to dealerships, which can be passed on to customers in the form of discounts and cash-back offers.
What to Expect:
- Significant Discounts: Discounts on both new and previous year’s models can be substantial, especially if you’re looking at cars from the current year but not the newest models.
- Great Financing Terms: Many dealerships offer 0% APR financing or very low-interest rates during this time to attract buyers.
- Model-Year Closeouts: If you’re open to purchasing the previous year’s model, you can usually find substantial discounts, as dealerships are eager to make room for newer vehicles.
2. End of the Month and End of the Quarter
If you can’t wait until the end of the year, consider purchasing at the end of the month or the end of the quarter. Dealerships are often motivated to hit sales targets for monthly or quarterly goals, and they may be more inclined to negotiate on price to close deals before the deadline.
Why It’s a Great Time:
- Sales Quotas: Salespeople and dealerships have monthly and quarterly sales goals to meet, and they are often more flexible on pricing or terms in the last few days of the month or quarter to hit their targets.
- Increased Willingness to Negotiate: As dealerships close in on their sales goals, they might be more willing to offer better trade-in values or additional perks to close a deal.
What to Expect:
- Price Flexibility: There’s a higher chance of negotiating a lower price, especially if you’re ready to make a deal quickly.
- Better Trade-In Offers: Some dealers might offer more for your trade-in vehicle at the end of the month, helping you save on the total cost of your new car.
3. Spring: March to May
Spring is another good time to buy a car, especially for those looking for a new car. The arrival of new models in showrooms can cause dealerships to offer great deals on cars from the previous year’s inventory.
Why It’s a Great Time:
- New Model Arrivals: In the spring, automakers typically release the latest models, meaning dealerships need to move older cars off their lots to make room for the new inventory. This often results in significant discounts on last year’s models.
- Less Competition: Spring is typically less competitive than the end-of-year sales rush, meaning there’s less pressure from other buyers, giving you a more relaxed car-buying experience.
- Seasonal Promotions: Many automakers run spring sales events with special financing rates, cash incentives, and promotional deals to kick off the buying season.
What to Expect:
- Inventory Discounts: Expect discounts on older models as dealers try to make room for the new arrivals.
- Limited Selection: The downside is that inventory might be more limited compared to other times of the year. If you’re looking for a specific model, color, or trim, the selection might be sparse.
4. Summer: June to August
Summer isn’t always the best time to buy a car, but it has its perks, especially if you’re looking for a used car or a convertible for the season.
Why It’s a Good Time:
- Used Car Deals: During the summer, demand for new cars often slows down, which means dealerships might be more willing to offer good deals on used vehicles to attract buyers.
- Convertibles and SUVs: Summer is the perfect time to shop for convertibles and sporty vehicles. Dealers may offer special pricing on these types of cars when demand is highest, especially at the beginning of the summer.
- Clearance Sales: At the start of summer, many dealerships will offer clearance deals to make room for new stock.
What to Expect:
- Limited New Car Deals: Summer isn’t generally known for deep discounts on new cars, but if you’re looking for a convertible or SUV, you might find promotions that align with your desires.
- Used Car Bargains: Summer is often a good time to negotiate a lower price on used cars as dealerships push to move inventory.
5. Fall: September to October
As summer winds down and the weather cools off, fall is one of the best times to buy a car. Like spring, fall is an excellent opportunity to get a deal on the previous year’s models as dealerships clear out their inventory.
Why It’s a Great Time:
- New Model Year Arrivals: Just like in the spring, automakers release new models in the fall, causing dealerships to offer discounts on the outgoing model year’s vehicles.
- Holiday Sales Events: Fall is the lead-up to big sales events like Black Friday, and many dealers offer early-bird discounts leading up to these events. This can be a great time to get pre-holiday deals before the madness begins.
- Less Rush Than December: Fall is less hectic than the end-of-year rush, so you can get great deals without dealing with the holiday shopping crowds.
What to Expect:
- Discounts on Older Models: Expect price cuts on vehicles from the previous model year as dealerships make room for new stock.
- Great Incentives: Expect low-interest financing offers and possible cash rebates, especially if you’re shopping for a new car.
- Less Pressure: The fall months are often quieter than the spring and summer, giving you time to make a more thoughtful decision.
Tips for Getting the Best Deal
Now that you know the best times to buy a car, here are a few tips to ensure you get the best possible deal:
- Do Your Research: Use online tools like Kelley Blue Book, Edmunds, or TrueCar to get an accurate idea of the fair market value of the car you’re interested in.
- Shop Around: Don’t settle for the first dealership or offer you find. Get quotes from multiple dealers to compare prices and incentives.
- Look for Manufacturer Incentives: Check the manufacturer’s website for any ongoing promotions or special incentives like cashback or low financing rates.
- Be Ready to Negotiate: Whether it’s the end of the month or the holiday season, be prepared to negotiate. Dealerships often have wiggle room in their pricing, especially during slower periods.
What to Look for When Buying a Used Car: A Complete Checklist
Conclusion
Timing your car purchase can save you a lot of money, whether you’re buying new or used. The end of the year, end of the month, fall, and spring are all excellent times to find deals, especially if you’re looking for discounts, rebates, and financing incentives.
By understanding the seasonal patterns in car sales and knowing when dealerships are eager to make a deal, you’ll be in the driver’s seat when it comes to getting the best price on your next vehicle. Happy car shopping!
