Are you shopping for cars and wondering when the best time to buy a car is? You might be surprised to learn that car dealerships offer better deals at different times of the year.
Keep reading to learn how to take advantage of these deals. We offer you details of the best day, time, month and season to buy a car.
Here are some tips on when to buy a new car:
Get a car on a weekday instead of a weekend. It will be less crowded, and you’ll have a better opportunity to ask questions, test drive the car and negotiate with the salesman. Earlier weekdays are often better when buying a car.
Instead of offering the best deals around holidays such as Memorial Day or Black Friday, car dealerships often offer their best deals at the end of the season. You might not have as many brand or style options, but you will find better pricing.
It’s important to note that spring and early fall are the busiest seasons for car dealerships, so it’s better to shop off season. The time between Christmas and New Years is one of the quietest times to buy a car and you’ll probably find many sellers trying to meet their end-of-year quota.
If you’re willing to venture out to the dealership during the holiday season, you’ll have a better chance of negotiating the price.
The best time to buy a car, if you can’t wait for end-of-season deals, is the last day of the month. Carmakers offer bonuses that increase when dealers hit certain sales numbers, so you will find sellers are more likely to negotiate at the end of the month because they are incentivized to meet their quota.
When new models come in, the “old” models go out. If you want to get a good deal and are willing to purchase the “old” model, pay attention to model changeovers. To track this, pay attention to specific carmakers’ announcements.
Often, they will introduce their new models in August, but they can be released any time during the year.
Research your options, look in-depth at your budget, get pre-approved for an auto loan and be ready to negotiate with the seller. There are better times to buy a car than others, but it’s important to remember that car prices aren’t fixed.
No matter the day, month or year, you should be able to negotiate the price of a vehicle. Take advantage of this trick and know what you want when you go in to buy a car.
Now that you know the best time to buy a car, start saving with Synchrony Bank. Ranked as one of the Top 10 Best Online Banks of 2017 by GOBankingRates.com, Synchrony Bank offers a variety of savings products that help customers save money.*
USA Today: https://www.usatoday.com/story/money/cars/2015/05/04/new-car-transaction-price-3-kbb-kelley-blue-book/26690191/
*Synchrony Bank was named one of the 10 Best Money Market Accounts, High Yield Savings Accounts, CD Accounts and Online Banks as well as one of 31 Best Banks for 2016. Source: Based on GOBankingRates.com; January 2016 survey.
*ANNUAL PERCENTAGE YIELD (APY): All APYs are accurate as of 06/30/2018.
APYs are subject to change at any time without notice. Offers apply to personal accounts only. Fees may reduce earnings. For Money Market and High Yield Savings Accounts, the rate may change after the account is opened. For CDs, a minimum of $2,000 is required to open a CD and must be deposited in a single transaction. A penalty may be imposed for early withdrawals. After maturity, if you choose to roll over your CD, you will earn the base rate of interest in effect at that time. The APY shown for CDs and IRA CDs is for a 60-month CD with a balance of at least $25,000. Click here for all CD rates and terms offered.