Why Timing Matters When Buying a Car: Best Months to Save Big
Buying a car is one of the biggest financial decisions you’ll make, and finding ways to save money can make a significant difference in your budget. While many know to negotiate or look for dealership promotions, fewer consider the importance of timing. The truth is, the month you choose to make your purchase can greatly impact the price you pay.
If you're in the market for a new or used car, this guide will tell you why timing matters and which months are the best to save big.
Why Timing Matters When Buying a Car
Car dealerships operate on specific sales cycles. These cycles determine when prices are more likely to drop or when discounts and incentives are commonly available. Here’s why timing plays such a crucial role:
Dealership Sales Goals: Car dealerships typically work to hit monthly, quarterly, and yearly sales targets. At the end of these periods, sales staff may be more motivated to close deals and offer better pricing to meet their quotas.
Seasonal Demand: Consumer interest in cars fluctuates throughout the year, creating periods where demand is lower. Dealerships often lower prices during these times to attract buyers.
New Model Releases: When manufacturers release new car models, dealerships are eager to clear out last year’s inventory. This means discounts and incentives on older models.
By understanding and aligning your purchase with these cycles, you can maximize your savings and get the best deal possible.
Best Times to Buy a Car
1. End of the Month
Dealerships often have monthly sales targets to meet, and if they’re close but not quite there, the end of the month is when they’re more likely to negotiate. Sales staff and managers feel pressure to hit their numbers, which can translate into better deals for you.
2. End of the Quarter
Quarterly sales goals can create even greater urgency than monthly ones. Specifically, aim for the last weeks of March, June, September, and December. During these times, dealerships are often more aggressive with promotions and pricing to meet or exceed quarterly benchmarks.
3. End of the Year
The end of the year is widely regarded as the ideal time to buy a car. Why? Dealerships are trying to hit their yearly sales quotas, and they’re also eager to clear out old inventory to make room for newer models. December is particularly hot for deals, with significant discounts and incentives on both new and used cars. Additionally, weekdays between Christmas and New Year’s Eve can be a goldmine for bargain hunters.
4. Model Year-End Closeouts
New car models are typically released in the fall, making late summer and early fall a prime time to shop. Dealerships are looking to clear out previous year models to free up space for the incoming arrivals, so you can often find significant savings.
5. Holiday Sales Events
Car dealerships capitalize on major holidays with tempting promotions. Watch out for special deals during events like:
Presidents’ Day (February): One of the first sales events of the year, often offering discounts on last year’s inventory.
Labor Day (September): End-of-summer closeout sales make Labor Day a great time to shop.
Black Friday (November): Black Friday isn’t just for electronics; many car dealers offer attractive deals during this shopping frenzy.
New Year’s Eve: A strategic moment combining end-of-year quotas and last-year model discounts.
6. Mid-Week Shopping
While weekends tend to be busy at car dealerships, mid-week days (such as Tuesday or Wednesday) are typically slower. With fewer buyers around, sales staff may have more time to work with you and may be more open to negotiation.
Additional Tips to Maximize Savings
Research Prices and Incentives: Before heading to the dealership, research the specific make and model you’re interested in to get an idea of pricing and current discounts from manufacturers.
Secure Preapproved Financing: By securing financing from your bank or credit union before visiting the dealer, you’ll have more control over the negotiation process.
Stay Flexible: If saving money is a priority, try to remain flexible about details like color, trim, or minor features. You’ll have a better chance of capitalizing on available discounts.
Negotiate Everything: Remember, the sticker price is not the only negotiable factor—down payments, trade-in values, and even additional accessories can also be discussed.
Time Your Purchase Strategically: Shop at the times outlined here to give yourself the best negotiating leverage.
Why Timing Equals Savings
Timing really can be everything when it comes to buying a car. By aligning your purchase with sales cycles, holidays, and end-of-period bonuses, you stand to save substantial money while still driving away with your dream car. Planning ahead and knowing when to shop can make all the difference in your car-buying experience.
If you’re ready to make your move, consider the tips shared above and set your sights on the months or days that are proven to maximize savings. Whether it’s taking advantage of end-of-year deals or hitting up a quarterly sales push, smart timing can mean major discounts.
Happy car shopping—and here’s to driving away in your new ride without breaking the bank!