If the reason makes sense to you, and the price is considerably better than your research says it should be, it could be a sign the dealer is trying to make a sales goal. But if you're in the midst of negotiating and the dealer offers you a super-low price, take a moment to ask your salesperson why the dealer is willing to potentially lose money on this sale. Keep in mind, however, that if the sales team met its quota earlier that month, salespeople may not be as motivated to give you the screaming deal you might be expecting.
This is the time when you shouldn't sleep on the car deal. Salespeople will have more motivation to make a deal with a buyer and might deeply discount cars, making up any money lost with the bonus. When the month is coming to an end, dealers might be a few cars short of a sales quota that would win them a big bonus. Why add to that pressure by trying to squeeze your shopping into a certain day of the week or a holiday weekend when everyone has the same idea?īut if you're a shopper who really wants to home in on the very best time to buy, let's look at your options.īest time of the year to buy a car End of the month Car buying can be stressful, and it can take more than a month to go from deciding what to buy to actually closing the deal. Simply put, here's our advice: The best time to buy a car is when you need it and feel ready to buy, regardless of the time of year. And, oddly enough, there is a grain of truth to many of them. Ask anyone, "When is the best time to buy a car?" and you'll get answers ranging from the end of the month to "wait until the new models come out." There are as many theories on this topic as there are days in the year. Flying somewhere? Buy your plane ticket on a Tuesday and fly out on a Wednesday. Need a new TV? Shop on Black Friday or around the Super Bowl. Much of this thinking revolves around zeroing in on the best time to purchase a particular item. The fall and winter should bring the largest discounts, and vehicles that are being redesigned or discontinued should still provide the potential for greater savings.īuyers are always looking for a way to game the system and save money on major purchases. That said, many of the major elements still ring true. Note that the article below was originally written before the pandemic when vehicle prices were relatively stable and predictable. If you're shopping for a new or used car in today's difficult marketplace, please see " Shopping Tips During the Global Microchip Shortage" for our experts' targeted, data-driven advice. We suggest starting your shopping process sooner rather than later since the chipset shortage will likely affect pricing and inventory at least through 2021. This means that these are far from normal times in terms of both the selection of cars available and the discounts you may encounter. Average transaction prices for new vehicles are up 8.6%, while prices for used vehicles have increased by a whopping 27%. According to Edmunds analysts, new vehicle inventory at dealerships nationwide was down by two-thirds in June compared to a year ago. As a result, fewer new vehicles are available on dealer lots and prices remain high, which has driven prices on used cars to unprecedented heights.
Summer/fall 2021 update: The COVID-19 pandemic has affected vehicle production worldwide through factory closures, limited staffing and a global shortage in semiconductor chips that are essential components in a modern vehicle.
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