Is There a “Best Time” To Buy a Car?

Buying a car is an exciting experience but may be intimidating to some. Approaching the process by being informed and prepared can make your new purchase a pleasant experience. It’s important to know what to look for when buying a new car, when the best time to buy a vehicle is, and even the worst time to buy a car.

What affects car prices?

The car market is constantly changing. As new cars come in, technology and product demand increases or decreases, the prices of vehicles shift. Before you understand more about the best time to buy a new vehicle, it’s best to know what dealerships consider when pricing their cars.

Vehicle prices are dependent on a few variables:

• When dealerships get new inventory
• How close a dealership or salesperson is to their monthly or quarterly quota
• Relation to holiday sales
• Demand for new cars and specific models

When is the best time to buy a car?

There are a couple of times throughout the year that are great times to buy a car, and within those periods, even more specific time frames to get the best deal. Certain seasons, months, and even days of the week have their advantages over other times.

The beginning or end of summer is the best season to buy a car. For many dealerships, the beginning of the summer brings new inventory and Memorial Day sales. At the same time, the end of summer gives you Labor Day deals, and sales associates are eager to get rid of all of their summer inventory to make room for their winter stock.

If the summertime isn’t the right fit for you to get your new car, there are other times of the year and holidays that bring on low price points. While summer holidays like Memorial Day, Fourth of July, and Labor Day typically bring on significant sales, they aren’t the only holidays you can score a deal on. New Year’s Eve is the best holiday to buy a car. Since it falls at the end of the season, month, and fiscal quarter, dealerships are eager to make one last sale before all these things end. Research from True Car shows buyers who purchase on New Year’s Eve typically save over 10% on their total purchase price.

It’s also important to note the smaller tips and tricks for within a particular season or month. The end of the month is a great time to score a deal because dealerships are eager to make their sales quota for that month. You’ll be even more likely to score a deal if you shop towards the end of a month that falls at the end of a fiscal quarter. These quarters end each March, June, September, and December, which makes these the best time of the month to buy a car.

Try to get to a dealership on a Monday or Tuesday. These days are usually slow at dealerships because most people are at work. Sales representatives will have more time to spend with each customer, meaning you’ll have more time to ask questions, explore different options, and, most importantly, negotiate.

When is the worst time to buy a car?

While certain times are better to buy a car than others, the worst time to buy a car is when you desperately need one. If you wait to start your car‐buying process until your vehicle breaks down or towards the end of its life, you’ll miss out on the chance to properly research and shop around. Keeping your car in good shape and running is even more important if you plan on selling or trading in your current vehicle.

The most important thing you can do is give yourself time in your car‐buying journey. Allowing ample time in your car‐buying journey, you’ll be able to shop around, research what make and model is best for you, visit multiple dealerships, and get different opinions.

When you are ready to buy your next, or even first vehicle, stick to the end of the month, quarter, and year. If you have the time, try to line it up with a holiday and the beginning of the week. And try to talk to an expert beforehand.

Luckily there are experts available to answer all your questions at ALGO. Whether you’re ready to sell ASAP or just looking to get some of your questions answered about the process, the team at ALGO is ready to help you with your car buying and selling journey. And when you’re looking for a used vehicle, Auto Lenders has a large inventory of used vehicles equipped with the features you desire. Visit the Auto Lenders website today to browse used vehicles, or call at 888-305-5968.