When is The Best Time to Buy a New Car to Save the Most Money?
Learn the best time of the day, week, month, and year to buy a car?
There is plenty of information on the internet about the best time to buy a new car. However, please be cautious of the source. Most of these individuals providing this information have never worked or experienced the day-to-day grind of a dealership.
In the following sections, I will provide valuable insights on the best time of the week, month, and year for purchasing a car.
These strategic timeframes will significantly enhance your likelihood of securing an excellent deal from a dealership.
Drawing upon my extensive expertise gained from over 20 years in the retail car industry, I will also highlight the unfavorable periods to avoid when considering a vehicle purchase.
Table of Contents
- The best time to buy a car is to pay the lowest price
- When is the best time of the week to buy a car?
- The best time of the month to buy a vehicle
- The best time of the year to buy a car
- Other good and bad times to buy a car
The Best Time to Buy a New Car and Pay the Lowest Price
Suppose you want to buy a new car at the lowest possible price.
In that case, you must purchase the vehicle when it has the most significant customer rebates and factory-to-dealer incentives available from the manufacturer.
The most significant new car discounts and incentives are usually near the end of the year when models change.
You may test the waters using free online car-buying tools to check what new vehicles are selling for in your region.
Real-Time Bargain Hunting: Turn to Edmunds for instant access to the latest and greatest local deals, saving you time, money, and stress.
Best Time of the Week to Buy a New Car
Weekends are usually crazy because dealers hold sales events and focus on the outcome of their advertising.
Having an abundance of traffic will tend to make a dealer retain profits. If they lose a sale because of it, they know they have another car buyer right behind them.
Mondays usually are “clean-up days” for a dealership. They focus on following up on the weekend’s business and handling any loose ends from the weekend’s sales.
Best Time of the Week to Buy a New Car
“Tuesday or Wednesday”
Tuesday and Wednesday are usually the slowest times of the week for a car dealership. Most people work during the week and do not usually shop for cars. A lack of customers makes business slow and traffic on the dealer’s lot scarce. I did whatever it took to sell a vehicle when a customer showed up in the middle of the week. I recommend Tuesday and Wednesday as the best times of the week to buy a car.
When is the Best Time of the Month to Buy a New Car?
Suppose you don’t have the luxury of time and cannot wait for the enormous rebates and dealer incentives that come out towards the end of the year.
The last day of the month is the most suitable time to buy a car. If the last day of the month falls on a day the dealer may be closed, or for some reason, you can’t make it on that day, plan your visit as close to the last day of the month as possible.
NOTE: You will want to have all your new car research and calculations done before the day you visit a dealership.
Most dealer incentives and customer rebates for new cars are released from the manufacturers during the first few weeks of the month. So, you may miss these discounts if you buy a new vehicle too early in the month.
As it gets closer to the end of the month, salespeople, managers, and dealers are doing everything they can to hit their monthly sales goals and quotas.
Best Time of the Month to Buy a New Car
“Last Day of the Month”
As I stated, a dealer and its sales staff have specific goals they must hit monthly to achieve certain sales bonuses. As the end of the month draws to a close. Some dealers may be just a car sale or two away from achieving their goal.
Salespeople and their managers become more flexible in making deals to reach these end-of-the-month quotas. Why? Because these goals are tied to their pay plans.
For example, a dealer gets a $500 bonus for every Toyota Camry he sells in September; however, he must sell a minimum of 50 Camrys to qualify. If the dealer hits his quota of 50, he will make an additional $25,000 from the manufacturer. That’s not a bad deal.
If you want to buy a Toyota Camry and are the 50th person to enter the showroom on the last day of the month? Do you believe there’s a chance you may obtain a better deal so the dealer can collect his bonus? Yes, I agree. For this reason, I think the month’s final day is the best day to purchase a new vehicle.
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When is the Best Time of the Year to Buy a Car?
Vehicle manufacturers always apply the highest customer rebates and dealer incentives on new cars as it gets closer to the end of the year.
They do this to help dealers move old inventory to accommodate the new model year vehicles.
Best Time of the Year to Buy a New Car
“Last Few Months”
September, October, November, and December are the months manufacturers try to make room for their new models on dealer lots.
Vehicle manufacturers tend to provide consumers and dealers with the most significant factory incentives and customer rebates during these months. Of course, the later in the year you can wait, the better.
Combining the last day of the month with the end of the year will increase your chances of saving the most money when buying your next new car.
Keep in mind, as you get closer to the end of the year. The discounts become more significant, but a dealer’s “older” inventory starts to thin out, and so do your chances of getting the vehicle you want to be equipped the way you like.
Other Good and Bad Times to Buy a New Car
Now let’s look at other good and bad times to go car shopping. Some of these may surprise you.
Visit a Car Dealership Right Before They Close
This happens almost daily. Many car buyers believe this is an excellent technique for buying a car. They think they can get in and out of a car dealership without haggling the price for hours.
Uneducated car buyers believe car salespeople and their managers will give away a car because they’ve been working all day, ready to go home to their families, and don’t want to stick around to play hardball. THIS IS NOT TRUE!
Some dealership personnel will be rude if you show up right at closing time and will tell you whatever to get you to leave. However, some salespeople will see you showing up late as an opportunity to hammer on you for hours on end.
If you’re still in the dealership after closing time, the staff will close the gate and lock up the dealership, not making it easy for you to leave unless you buy a car. They’ll haggle with you until midnight or later if need be.
The sales staff will do anything and everything in their power to make you PAY for making them STAY!
Going to a car dealership right before they close may seem like a good idea, but it’s not the best technique you can use, and I would strongly advise against it.
- How to Buy a New Car Below Factory Invoice Price – True dealer cost and the factory invoice price are not the same… dealer cost can be much lower.
- Figure a Fair Profit New Car Offer – How to calculate a fair profit new car offer.
- How to Buy a New Car Online – Not sure where to start? Use my step-by-step guide on how to buy a new car online.
Arrive at a Dealership During Bad Weather
Some car buyers believe if they visit a car dealership when it’s raining, snowing, or in other bad weather situations. No other customers will be on the lot, and the dealer will be more willing to make a good deal to sell a vehicle.
Car dealers believe that if you’re out shopping for a car in inclement weather, you must be desperate to buy a new car.
This technique will make you uncomfortable while shopping for a car. The dealer will negotiate with you the same way as if it were a lovely sunny day.
If you’re shopping for a used car, inspecting the vehicle’s condition in lousy weather will be challenging. I advise staying dry and warm, saving your visit to the car dealership for a sunny day.
Car Shopping During a Holiday
Business is traditionally slow for a dealer around the holidays. During Thanksgiving and Christmas, customer rebates and incentives usually are higher than the rest of the year.
However, car dealerships also tend to reduce their inventory around this time of year, selling off as much old stock as possible to accommodate the new incoming models. Depending on the vehicle you’re looking for, this may be an excellent time to buy.
If you buy a vehicle during the holidays, do your homework as you would before buying a car at any other time during the year.
Dealerships are always promoting some “BIG SALE!”
Please don’t fall for the hype; it’s all a numbers game to them. Dealers will attempt to make as much money as possible from an uneducated buyer at every chance.
Other times of the year that are a great time to buy a car include:
Dealers tend to make big deals and hold huge sales events during these times.
Knowing the best times to buy a car can be a game-changer when securing a great deal on your new vehicle.
By leveraging the insights and tips in this article, you can confidently navigate the car-buying process and maximize your savings.
Whether targeting specific days of the week, strategically timing your purchase within a month, or capitalizing on seasonal fluctuations, being informed about the optimal moments to buy a car can save you substantial money.
At Auto Cheat Sheet, we strive to provide comprehensive guidance and insider knowledge to help you make informed decisions when purchasing a new car.
Our years of experience in the automotive industry enable us to offer valuable tips that can enhance your car-buying experience and put you in a favorable position for negotiating a great deal.
So, next time you’re in the market for a new car, consult our resourceful guide on the best times to buy a car.
By utilizing this information, you can confidently navigate the dealership process, secure an advantageous deal, and drive away in the car of your dreams without breaking the bank.
Stay informed, stay savvy, and enjoy getting the best possible deal on your new car purchase with the information on the Auto Cheat Sheet.