The Best Times of The Year To Purchase A New Car
They say “timing is everything,” especially when purchasing a new vehicle. Finding the perfect time to buy a car can save consumers thousands of dollars, as retail prices can fluctuate based on supply and demand. Additionally, depending on the time of year, automotive financing, cash back, and leasing incentives can also change.
President’s Day, 4th of July, Memorial Day, and Labor Day – oh my! Holiday weekends are ideal times to purchase a new vehicle. For instance, Memorial Day weekend not only kicks off the summertime, but consumers are also more inclined to buy a new sports car or convertible. Additionally, dealers usually roll out sales and offer many finance deals and lease incentives. Specifically for those consumers who live up north, once that chilly winter weather passes, they might consider purchasing a brand new car to kick off the summer!
According to Edmunds, here is a list of the three-day holiday weekends and a brief rating of each:
- Presidents Day: February is the month with the smallest discounts off MSRP, so this is unlikely to be the best month to buy.
- Memorial Day: This holiday kicks off the summer buying season and is a solid time to get a deal. It’s also when you will have the largest selection of outgoing models to choose from. Shop around this time if you’re particular about a certain color or option package.
- Fourth of July: There should be a greater mix of incoming and current-year vehicles at this time. Worth taking a look at what’s on the lot if you’re unsure whether you want the car from the outgoing or the incoming year.
- Labor Day: This is the sweet spot in terms of selection and competitive pricing. Not the very best of the year in terms of savings, but you’ll have more vehicles to choose from than if you waited for the year-end deals.
Weekdays Are Better Than Weekends
It’s no secret that dealers are generally the busiest during the weekends. For consumers who prefer a more relaxed car buying experience, we recommend stopping by during the weekdays. Typically on Mondays, aside from the dealer being less busy, consumers and their salesman can work together to find the perfect car, stress-free. According to the data collected by TrueCar.com, it was revealed that an average of 8.1 percent was saved off of the MSRP on Mondays, while Saturday’s revealed 7.77 percent and Sunday with 7.49 percent of savings. Although it’s not uncommon for a consumer to go car shopping on a Tuesday or Wednesday, for those who do, they can expect less foot traffic and more of an opportunity to ask plenty of questions, resulting in the car buying process taking significantly less time.
As previously stated, there are numerous opportunities available throughout the year for consumers to get the best deal on a used car. Ultimately, it all boils down to the consumer’s preference in comfort and price range. At Driver’s Auto Mart, we’re known for offering the lowest prices in the U.S.A. Stop by our location in Davie, FL to test drive one of our used vehicles today!