A new car is a significant purchase, and learning when to get the best deal can save you thousands of dollars. While there is no magic formula to finding the perfect deal on a car, consider these specific times of the year.
During the end of the model year
It’s like how the saying goes, “Out with the old and in with the new!” The upcoming car models for the new year are typically released in the fall, which means the dealerships may be more motivated to clear out the current year’s inventory. Use this to your advantage and research which dealers are giving discounts for those cars.
Three-day holiday weekends during the year like Memorial Day or Labor Day often come with special sales events at dealerships. Holidays towards the end of the year such as Black Friday, Christmas, and New Year’s Eve usually offer promotions since many dealerships are looking to hit their year-end quotas.
When you are ready
The best time to buy a new car ultimately comes down to your financial situation and preference. Make sure you can comfortably afford and handle the monthly costs associated with it, on top of any other payments you may have. If your current vehicle still works and fits your lifestyle, maybe you don’t need a new car yet. Do not rush yourself or fall into the peer pressure of getting a new car.
These tips are here to help you make a more informed decision during the car shopping process. Remember to be patient and do your research when looking for your next car. Good luck!