It’s no secret that the COVID-19 pandemic has turned the car market on its head. Short supply and high consumer demand for new and used cars means that buyers are paying far more than anticipated. With a market this competitive, you have to optimize your plans to buy a new car so you don’t spend too much.
When is the best time of year to buy a car? Are there other opportune times to make your purchase? Read on to learn the answers to these questions and more!
When Is the Best Time of Year to Buy a Car?
People buy cars all year long, but there’s one time of year in which it is truly optimal to buy a new car.
If you really want to save big on your new car, then the best time to purchase your new car is at the tail end of the holiday season. The biggest bargains are typically found on New Year’s Eve. This is because both dealers and salespeople have annual sales goals and bonuses that they’re trying to make, so they’re motivated to cut you a deal.
Can’t make it on New Year’s Eve? Try heading in on December 24, or December 27-30 for similarly competitive offers.
What If You Can’t Wait?
It’d be ideal if you could wait until the end of the calendar year, but that’s not always possible. Thankfully, there are several times a year when dealers offer major sales on their cars.
These major deals typically fall on holiday weekends and when new models of vehicles come out. For example, if you’ve been Googling “Jeep Grand Cherokee near me” to get your hands on the Jeep of your dreams, you can probably get one for a discount around President’s Day, Memorial Day, or Labor Day.
New models of vehicles usually come out around Labor Day for domestic cars, and a couple of months later for imported brands. If you don’t mind getting a car that’s a model year older, then you can save major money this way.
Best Time of the Week to Buy
If you need a new car right away, you probably can’t afford to wait for major holiday sales to purchase it. In that case, it’s best to use the days of the week to your advantage.
In general, the earlier in the week you purchase, the better. Weekends are the busiest, and salespeople won’t have as much time to focus on you and your purchase. If you, try to wait until the end of the month to take advantage of salespeople trying to hit their monthly goals.
Don’t Let the Car Buying Process Get the Best of You
In today’s busy car market, learning the best time of year to buy a car can help save you a ton of stress. Make sure to center your purchase around these timeframes when you’re searching for cars for sale, and you’ll be more likely to get a good deal. You won’t regret the extra time and planning you took to do this right!
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