When Is Best Time to Buy a New Car?

by Jennifer Hench

Knowing the right time to buy a new car can help you score the best deal possible. You need to know your budget and the type, make or model of the cars you are interested in to help guide you to the right dealer at the right time to buy your new vehicle.

The End of Summer

The end of summer is one of the top times to get a good deal on a vehicle, especially if you are willing to take the current-year model. This is because the end of summer is when the next year's models are released and thus dealers are more apt to work a good deal for you to clear out old inventory to make room for the new vehicles that get delivered just as summer comes to a close.

The End of the Year

The end of the year is also prime car-shopping time. Dealerships run in the same manner as other businesses and need to make a year-end push for sales to get total revenue figures up. Dealers and sales staff want to have high sales figures for the calendar year, so they tend to be more willing to negotiate deals so sales are made and hit the books before the year closes.

The End of the Month

The end of the month is typically a time when dealers and manufacturers run better vehicle specials. This is due to sales figures — and the commissions earned by car salespeople — being routinely calculated on a monthly basis. Shopping during that end-of-the-month period when salespeople are scrambling to get transactions completed can prove advantageous.

The End of the Day

Taking the other options into consideration, you are more likely to get a better deal by shopping for a new vehicle at the end of the day. This is when salespeople begin to calculate sales for the day. You can couple this approach with other tactics. For example, shopping and buying the end of the day, at the end of the month at the end of summer should yield a better deal compared with shopping during the first week of a new year.

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