Were you aware that the average cost of a new car in 2023 is $57,062? Buying a car is a significant decision, not only in terms of the vehicle price but also regarding the timing of the purchase.
While many factors play into making a successful deal, the timing of when you buy a car can impact the cost. As the market fluctuates, certain months and times offer better deals and savings than others.
So, when is the best and worst month to buy a car?
Best Months to Buy a Car
The prime time for buying a car is around the holidays, in the month of December to be exact. Dealerships are trying to end the year strong and exceed their sales quotas. This leads to larger discounts and more savings to the customer.
Vehicle manufacturers also offer extra incentives and discounts because they want to clear out old inventory. Imagine shopping on New Year’s Eve? Your sale can be that one sale that puts the dealership on the map with the manufacturer for having record sales.
Buying at the End of the Month
No matter which month it is, buying your new car on the last day or around the last day of the month can come with huge savings. The reason is that dealerships have quotas to meet, and your sale can mean that they don’t miss quota, or it can put them over quota which can lead to the dealership being recognized by their corporate team.
End of Quarter
Most dealerships are also under pressure to meet certain sales quotas at the end of each quarter. Usually, manufacturers set a certain quota that dealerships are required to meet, and therefore this can lead to major savings.
The end-of-quarter months are the months of March, June, September, and December. More than likely you will have the upper hand in negotiations.
Bad Weather Months
In areas where it snows and has cold winters, car sales tend to slow down. If you live in one of these areas, you might save money shopping for a new car, because dealers are not hitting their sales.
So why not go in and see how much they will sell you your dream car for?
Worst Month to Buy a Car
Right at the beginning of the year, dealers have ended their major year-end sales events. During January the chances of dealers offering huge savings are a lot less because of their end-of-year push.
Also, most dealers have lower inventories at the beginning of the year because of the high sales volume they experienced in December.
Another month that might not be the best to buy a new vehicle is during the month of September. This is normally a time when manufacturers release new models, so dealerships are not as motivated to offer large discounts and promotions. No matter which month it is, buying your used cars in montclair on the last day or around the last day of the month can come with huge savings. Additionally, if you’re wondering, “Can I get a loan against my car?” you can always apply for a title loan online to earn emergency cash.
Buying During the Summer
From around April to July there is a much higher demand for vehicles because the weather is nicer and people are also receiving tax refunds. These months tend to lead to price increases.
Also, the chances to negotiate are a lot less because the demand is so much higher. This doesn’t mean that finding a deal isn’t possible. You can wait until summer is almost over to try to get a better deal.
If you find yourself really needing a car during the summer, the best thing to do is visit the dealer towards the end of the month when managers are more motivated to negotiate to meet their sales targets.
Weekend Shopping
Most people are off on the weekends, so dealerships are busier on Saturdays and Sundays. This will give you less negotiation room because there are plenty of others shopping at the same time. If you can go to a dealership during the week, you will have more one-on-one time with your salesperson.
If you have no choice but to visit a dealership on the weekend, then you might want to call ahead of time and make an appointment. This will ensure that someone is waiting for you at a certain time, and you don’t have to sit around waiting for help.
Also, when shopping on the weekend, being patient is a must. Be prepared for delays when doing paperwork or even when you want to test drive a vehicle.
Tips for Getting the Best Deal
We highly recommend taking time to thoroughly research the specific vehicle you want to drive around. If you’re not sure, then you want to compare different types of cars until you can pinpoint which car will serve your needs best.
Having patience and not rushing into buying a vehicle is going to lead to better deals. When you start shopping around, do not go to just one car dealership. Visit multiple dealerships and see what they are willing to sell you the vehicle for.
Making these trips is going to give you the leverage to negotiate and get a better price. Our last tip is to consider buying last year’s model instead of the current year. Many times you will save a ton of money just because it is not the “latest and greatest.”
You also want to make sure that the dealership is reputable. When you find dealers like Honda Oakland that have repeat customers and are known for treating their customers well, this can often be better than basing your decision on solely the lowest price.
Ready to Look for Cars for Sale?
As you can see, there are certain times of year that are more favorable for receiving bigger discounts. Now you are equipped with the knowledge to help you avoid the worst month to buy a car.
At the end of the day though, the best time to purchase a car depends on the make and model you’re looking for and if it’s available.
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Remember to always take the time to research and sharpen those negotiation skills to ensure you get the best bang for your hard-earned money. If our article came in handy, make sure you continue browsing this section for our latest tips.
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