That means more choices than at the end of the year. While Labor Day doesn’t rank as one of the best holidays for deals, it typically brings more car inventory and competitive pricing. And because it takes place during the end of the model year, current models will be discounted more. Since Black Friday falls near the end of the year, you should be able to get good deals. During this time, car dealerships have the biggest inventory of outgoing models. It’s the holiday weekend that launches the summer sales. Memorial Day weekend is another ideal time for car shoppers. This is why the Christmas season - specifically, December 24 and December 27 to 30, according to Carfax - is another prime time to go to dealerships. As mentioned, the end of the year is when car salespeople are trying to hit their sales goals for the end of the year, the quarter and the month. If you can, hold out until New Year’s Eve to buy a car. Typically, the best holidays to buy a car are Christmas Eve, New Year’s Eve, Memorial Day, and Black Friday. Most people are familiar with local car dealership commercials that urge people to take advantage of clearance sales, but some car-shopping holidays are better than others. However, if that car model has low performance or is undependable, you should probably walk away from it. If it’s due to lack of interest, that may not be a big deal. Even though cars depreciate quite a bit with end-of-car-life cycles, they’re worth considering if you want to keep a car for the long haul.įor safety reasons, it’s important to know why a vehicle is being discontinued. You can save even more money than you would on a car that’s being redesigned. Similar to the end of a model year, there are attractive sales for outdated models. This is when an automaker completely redesigns a car model. There are two cycles to keep in mind if you want savings: an end-of-car-design cycle and an end-of-car-life cycle. End-of-Car CyclesĪlong with end-of-the-year sales, you should take advantage of end-of-cycle deals. New car models generally start arriving in September or October. Model years generally end around Labor Day for domestic brands (those made in the United States) and in October or November for imports (those made in other countries). This could especially work if you don’t care about the bells and whistles the new model may have. While other shoppers are more interested in buying newer models, you can get a lower-priced older model. End of the Model YearĪ great time to buy is when a car’s model year has passed. You can also probably get deeper price cuts on models that are selling slowly or are about to be redesigned or discontinued. Dealers offer more discounts and rebates at the end of a model year because they want to make room for the next year’s new supply. Like the end of the calendar year, the end of the model year is a prime time for buying a car. Unlike in wintertime, you’ll have a large stock of departing models to choose from. If you aren’t able to go car shopping at the end of December, May is another good option. The best time of year to buy a car is towards the end of December, especially if you want a new vehicle. The weekend is another bad time to get a great deal, but holiday weekends are exceptions. The months with the least discounts are January through April, according to Edmunds. One of the worst times to buy a car is the beginning of the month because car salespeople aren’t fighting as hard to meet their sales quotas. But according to Chou, corporate goals or incentives could mean you’ll see greater swings in pricing when you negotiate for a new vehicle compared to a used one. “The same rules generally apply to both new and used cars,” says David Chou, co-founder and CEO of Motorenn, a startup that buys and sells luxury vehicles. To earn their target incentive pay, the staff must meet sales goals during a set time frame, which could be toward the end of the month or the year. But if you can’t wait that long, there are other times of the year when you can still get great car deals, incentives, and rebates.Ĭar prices drop toward the end of the year because auto salespeople are in hyperdrive to push inventory out before the new year and meet their sales quotas so they can earn hefty cash bonuses. This is usually the case for buying a new car and used vehicles. The best time to buy a car is from October through January 1, with December as the standout.
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