As a first-time buyer, you might be wondering how to plan the timing of your purchase. What time of year can you find the lowest prices at the dealership? Are some days of the week better to shop than others? We’re here to help you plan out your trip to the dealership.
Key Takeaways
- The more time you have to look for the perfect car, the better. If possible, it’s ideal to begin your search for a car before you even need a new car!
- Hit the dealership on a weekday, when you’ll feel less rushed, unless it’s a holiday weekend, when you can score a great deal.
- Look for lower prices on outgoing model years starting in May, but more so in October and November.
- In December, when sales reps are looking to boost their annual sales numbers, you can often find the best deals.
- For those who don’t mind shopping for last year’s model, you can get a great deal when the new model year arrives at the dealership.
- Year-end sales are typically when you’ll find the best possible deals on new cars.
Start Shopping Before You Need a New Car
The more you need a car, the more pressure you’ll feel to buy one right away. If you begin shopping while you still have transportation, you can spend more time doing research and test-driving options. The earlier you start the car-buying process, the more time you’ll have to find a great deal on the best car for you.
The Best Day of the Month to Buy a Car
As it turns out, some days of the month are better to buy a car than others!
Mondays (or Not the Weekend)
You’ll want time to take a decent test-drive and negotiate a good price, so it’s best to avoid busy weekends at the dealership. Since many lenders aren’t open on weekends, you’ll enjoy the added benefit of extra financing options when you shop on a weekday.
Three-Day Weekends
If you should avoid the typical weekends, which will be busy, you’ll want to check out the dealership on three-day weekends. That’s because dealerships often offer their best sales incentives — such as cash back or special financing — on holidays. Although Memorial Day is typically the best time to find a great sale, you may get some great deals on Labor Day, the Fourth of July, or President’s Day.
The Best Month of the Year to Buy a Car
There are several months that are typically better to buy a car than others — namely, May, October, November, and December. But each is a little different. Let’s take a look.
May
May is the start of the summer buying season, and dealerships may offer Memorial Day sales throughout the month. You’ll usually see a lot of cash back offers, financing deals, and leasing deals during this time.
Some new model years may also appear around this time, and you may be able to score a great deal on the outgoing version of these models.
October
Although some redesigned models arrive at the dealership in spring, most tend to make their big debut in October. That means you can typically score a great deal on an outgoing model, since most dealerships will want to make room for the new ones. Of course, you’ll only want to shop the October sales if you’re interested in buying one of the outgoing models.
November
Throughout November, you’ll also see great sales on outgoing model years. But Black Friday also takes place in November, and you’ll typically see a lot of financing incentives and cash-back offers during this infamous sale holiday.
December
When December rolls around, the sales reps at your local dealerships are looking to reach their year-end sales goals. And that means they’ll offer you more incentives than usual. At the same time, automakers often offer special financing and cash-back offers around this time, doubling your prospects of finding a great deal.
The End of the Model Year
Although some new models show during the summer (or even as early as spring!) Most new models arrive at the dealership during the fall of each year. Right before (or just after) a new model shows up, you can potentially get a great deal on the outgoing model year.
Similarly, when a particular model has been redesigned (or discontinued), you may be able to score a great deal on the last model year of the previous generation (or the final model year in production). For example, Ford is releasing the redesigned 2024 Mustang in the fall of 2023, which will be a great time to shop for a deal on the 2023 Mustang!
Year-End Sales Events
Many dealerships host year-end sales events on New Year’s Eve and New Year’s Day, and they can be the absolute best time to get a great deal. As you may have noticed, these year-end sales are at the end of the month and the end of the year, creating a perfect sales storm where dealers and sales reps are trying to reach their sales goals.
As you might expect, dealerships are extremely busy during these year-end events. Before you head to one, you’ll want to do all your research ahead of time and show up knowing which models you want to test-drive! It’s also a good idea to walk in the door with pre-approved financing and an understanding of your car’s trade-in value to help streamline the process.