With inflation on the rise and record-high car transaction prices, you can save a significant amount by scheduling your purchase at the best time of the year (arguably). While several factors may dictate this decision for you, you can score a great deal by taking the following into consideration.
Best Month of the Year to Buy a Car: End of the Year
According to experts, December is the best time to buy a car as salespeople strive to meet their sales goals or quotas to score a high annual bonus. Every car dealer has monthly, quarterly, and yearly sales goals, all of which come together at the end of the year.
Your purchase could be the difference between meeting their yearly sales goals and getting a high bonus or not getting a good bonus. The last days of December will tilt the odds in your favor.
Visit the car dealership on 31st December when dealers want to get their cars sold to bag that fat bonus. You could save up to 8.3% on the final sale price if you buy a car during these days.
Best Day of the Week to Buy a Car: Monday
Time is critical when buying a car. If you want to optimize things further, avoid weekends to buy a car. Monday is considered the best day of the week, as car dealerships aren’t busy during this working day and would thus pay more attention to you.
Most people do their shopping (even car shopping) on weekends, specifically Sundays. You can save 0.61% more by buying a car on Monday than Sunday!
In places where car dealerships are closed on Sundays, Monday is usually a busy day. In such an event, you should go to the car dealership on Tuesday or Wednesday.
Best Holidays to Buy a Car
If car holiday deals appear to be nothing more than a scam to you, think again! There are some holidays when car dealerships offer lucrative deals to customers, so don’t miss out on this opportunity. Holidays like Memorial Day, Labor Day, Fourth of July, and Hanukkah are all events where you can bag an excellent blowout sale.
Many car companies offer handsome cash-back car deals on holidays. Before you head out for the Fourth of July celebrations, visit the car dealership to get a better deal than at other times.
Other Months to Buy a Car
What do you do if you cannot buy a car during December or on any of the holidays mentioned above? If you can’t bag the most profitable deal, you should at least steer clear of the worst months to buy a car.
Generally, the least discounted months are from January (minus the first few days) to April unless it is the last day of March, June, or September, which are the last day of Q1, Q2, and Q3 respectively, as you can still get a good deal as salespeople want to meet their quarterly goals.
Better discounted months to buy a car run from May to September. If you can’t wait till December, you can choose the next best option and buy your car in October or November.
Final Word
You’ll find several opportunities to get a good deal on your desired car throughout the year. While these factors are important, you should get a car when you most need it after your research. With skyrocketing car prices, you’ll make a sound financial decision by following this guide.