The Best Time to Buy a Car: Strategies for Scoring a Great Deal

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Due to supply chain issues, high interest rates and limited stock, the auto industry faced tough times in the past few years. This made many people hold off on buying a new car. However, things have improved in recent years, and today, you can take advantage of the good times to get the best deal on a new car.

You can use the internet to save time, check out local dealers and avoid common shopping mistakes when purchasing a car. Not only this, but you can also schedule a test drive and negotiate the price via chat or email. Continue reading the blog, where we will discuss the best time of year to buy car!

With the current car market conditions, predicting the best time to buy a new car is difficult. As a result, you will need to consider your options carefully. You can choose between two main strategies right now:

The first is to hold on to your current car and wait for better market conditions for buyers. The other is to buy now and take advantage of a good trade-in value. Before we discuss the best time to buy a car, let us take a look at the state of the car market and how it affects the best time to buy:

Current car market conditions

The car market is gradually recovering from the shortage of semiconductor chips and vehicles that caused prices for both new and used cars to reach record highs. However, it has not fully returned to the pre-pandemic levels of discounts and inventory.

While both are moving in the right direction, we are only about two-thirds of the way to having enough cars in stock. As for discounts, they are just half what they used to be, meaning there is still a long way to go before these trends are fully realized.

Buy a car before you need one

Start shopping for a car before you need one. This gives you more time to research and find the right one for your budget. It also gives you more power at the dealership so you are less likely to settle for an overpriced or less-than-ideal vehicle.

If you are trading in your old car, make sure it is in good condition to get a better value. Consider negotiating the price first, then bring up the trade-in to avoid confusing offers. Planning things and your budget ahead makes you feel more relaxed and ready to act when the right car and time come along.

When is the best time to buy a car?

Usually, the best time to buy new car is when you actually need it and feel ready, no matter the time of year. The car market can be unpredictable, and there is always something that makes buying a car tricky, like low trade-in values, high interest rates and limited inventory.

Simply put, car shopping can be stressful, and often takes more than a month to go from choosing a car to closing a deal. So why add extra pressure by trying to shop on a specific day or holiday when everyone else is doing the same? If you are looking for the best deal, let us look at the best times to buy:

Best time of year to buy a car

At the end of the month, dealers might be short of their sales goal. This means salespeople could be more motivated to offer big discounts to close a deal and earn a bonus. This is a good time to buy a car, but if the sales team has already met its target, they may not be as eager to offer deep discounts.

It is hard to know this in advance, but if the salesperson offers a very low price, ask why the dealer is willing to lose money on the sale. If the answer makes sense to you and the price is much lower than you expected, it could mean they are trying to meet a sales goal.

However, if you are nervous about buying at the end of the month, test-drive the car earlier in the month and consider finalizing the deal closer to the end. Since many new-car deals last a few days into the next month, you might have extra time.

The best month to buy a car

The end-of-the-year car buying strategy works similarly to the end-of-the-month approach. December has usually been the best month to buy a car because of the biggest discount off the manufacturer’s suggested retail price (MSRP).

It is also when dealerships need to clear out any remaining cars from the current year to make space for new models. Although this trend disappeared for a few years because of disruptions from the COVID-19 pandemic, December saw the best discounts on car prices again in 2023.

Best day to buy a car

Shopping early in the week is more about getting better attention from the salesperson than finding the best deal. Weekends are usually bust at dealerships, so salespeople may be handling several customers, and the process can take longer.

However, if you visit on a Monday or Tuesday, there will be fewer people. This will allow you to ask more questions and finish the process more quickly.

Also Read: Your Ultimate Guide to Buying a Car in USA

What is the best time to buy a used car?

The best time to buy a used car is from October to December. This period coincides with the peak new car buying season, meaning more trade-ins are coming into the dealership, which leads to a larger selection of used cars. This also gives you a better chance at lower prices, especially if the dealership is trying to meet its end-of-year sales goals.

Conclusion

Now that we have reached the end of this blog, you must have realized that the best time to buy a car is usually when you need one the most. However, if you are not in a rush and want to save as much as possible, there are certain times of the year, like the ones we discussed in this blog can help you get a better deal.

So, whether you are shopping for a new car or a used car, consider factors like end-of-month or end-of-year sales, shopping early in the week and preparing for trade-ins. Planning, staying informed and being flexible with your timing are the keys to making a smart purchase!