Trying to pinpoint the best time to buy a car can be a little tricky because the timing all completely depends. Depends on what? The market for cars isn’t a written guideline and trying to determine the perfect time to buy will depend on who you ask and when. When beginning your search, it’s a good idea to consider your current own financial situation, budget, and your needs or wants before you choose to buy a new vehicle. Below we’ve pulled together a small list of timeframes when it would be beneficial to look at purchasing your next vehicle.
Day of the Week
Did you know that Mondays are considered the best day to buy a car? Many of the other potential care shoppers will be focused on the responsibilities of their jobs. What does this mean for you? This allows you to have a full look over all of the available cars without the potential for the one you want to be sold while you are still shopping. This also means that the representative at the dealership will give their sole attention to you while you browse.
The End of the Month
Typically, dealerships will set goals to sell a certain amount of cars on their lot per month. If a dealership has yet to hit their sales quota for the month, this may lead the dealership to push their teams for a sale. This gives you a little more room to negotiate on a vehicle by shopping at the end of the month.
The End of the Year
According to the Kelley Blue Book (KBB), often dealerships offer their best deals for car sales at the end of the calendar year. This is why we tend to see so many advertisements shown at the end of the year. Car dealerships prefer to have a smaller inventory of older model cars as they go into the new year. This is a typical practice since the dealerships need to meet their yearly goals.
Shop During a Holiday Weekend
Holidays sales are done quite often by car dealerships. This tends to translate into bigger savings when you buy a car over a holiday weekend. Car dealerships tend to offer higher rebates or limited time financing during these types of sales. The most popular holiday sales are usually Presidents Day, Memorial Day, Fourth of July, Black Friday, New Year’s Eve, and Labor Day.
If you are looking to buy a new car soon, it may be time to look at your current auto coverages and see if you could update or add to your policies. Schedule an appointment with your local agent and see what auto options are available.