The best time to buy a car might be right around the corner.
Buying a car is a major financial decision, and timing can play a crucial role in how much you pay and what deals you can find. Knowing when to shop can help you save thousands of dollars and make your car-buying experience more rewarding.
In this article, we’ll answer the question “when is the best time to buy a car?”, along with strategies and insights that can empower you to drive away with the best deal.
Why does timing matter when purchasing a vehicle?
We understand that buying a car can feel overwhelming, especially in today’s financial environment. Fortunately, waiting to make this big purchase can come with some monetary perks when you time it just right.
Car prices fluctuate throughout the year based on supply, demand, and dealership incentives. Understanding when dealerships are most motivated to offer discounts can give you a clear advantage. Whether you're buying a new car or a pre-owned vehicle, making your purchase at the right time could yield positive results financially!
When is the best time to buy a car or truck?
1. At the end of the month
Salespeople have monthly quotas to meet, and hitting these targets often comes with bonuses for them. If you shop during the last few days of the month, dealerships may be more willing to negotiate on price to close a sale. This could translate to more flexibility on the sticker price or added perks like free maintenance plans.
Pro tip: Visit the dealership mid-month to test drive the cars you're interested in, then return at the end of the month to negotiate and close the deal.
2. End of the quarter
Car dealerships and manufacturers also operate on quarterly performance metrics. This means March, June, September, and December are crucial for sales teams to meet broader goals. By shopping near the end of these months, you double your chances of catching salespeople eager to finalize deals.
3. Last quarter of the year
October to December is widely regarded as the best time of year to buy a car. Here’s why:
- New car models typically arrive in the fall, which pushes dealerships to clear out previous year inventory. Discounts on outgoing models can be substantial.
- Holiday sales events for Black Friday, Christmas, and even the new year often come with attractive deals.
- Since dealerships set yearly goals, closing unsold inventory by December is critical. This is why you’ll often see “End of Year Sales Events” with deep discounts.
4. Additional national holidays
One of the best times to buy a car is during national holidays as they bring some of the most enticing car deals. Here are a few holidays worth timing your purchase around:
- Often regarded as the unofficial start of summer, Memorial Day weekend features great deals on SUVs and trucks for families preparing for road trips and vacations.
- Falling just before new model arrivals, Labor Day can be an excellent time to snag outgoing-year models at reduced prices.
- Fourth of July summer sales events focus on family vehicles and crossovers, typically with decent discounts.
5. When inventory levels are high
When dealerships are stocked with too much inventory, they’re eager to move cars off the lot to make room for new shipments, making this one of the best times to buy a car. Times when this excess inventory occurs often coincide with economic slowdowns, end-of-season clearances, or unexpected production scheduling issues. Keep an eye on these periods and consider shopping when the dealership floors are crowded with unsold inventory.
Deciding when is the best time to buy a car comes down to understanding the rhythm of the automotive industry. Whether it’s the end of the month, the end of the year, or during special holiday sales events, there are clear opportunities to save if you’re strategic.