For most people, buying a car can be both exciting and stressful. Whether you’re ready to upgrade the wheels you’ve been driving since college, need a vehicle for your growing family or want a ride that fits your lifestyle, waiting for the right time of the year can help make this decision less stressful and more exciting.
Why the time of the year matters for finding the best car deal
When purchasing a new or used car, the day and month you buy can significantly impact prices, availability and dealer incentives. Strategically planning your purchase around sales cycles, holiday sales events and model year changes can help you find the right deal for you.
Read more: Saving for your next car? Ally Bank’s savings buckets can help.
Strategically planning your purchase around sales cycles, holiday sales events and model year changes can help you find the right deal for you.
When are some of the best times of the year to buy a car?
Collisions or reliability issues can sometimes make waiting to buy a car difficult or impossible. But if you can plan for your next car purchase, consider leveraging these optimal seasons for big purchases.
The best months to buy a car
Months that fall at the end of each quarter (aka March, June, September and December) are some of the best times to buy a car. During these times, the sales staff may be trying to reach quarterly goals by closing as many deals as possible.
October and November can also be good times to consider buying a car. That’s because the auto industry’s new year kicks off in October, and dealers want to make room for new and redesigned models in their showrooms. Sales staff could be more likely to offer you a deal to move inventory during these months.
December has some additional perks for potential car customers since this is when monthly, quarterly and annual sales goals all align. That, along with annual holiday car sales events, can make December a prime time to shop. On the flip side, with more car shoppers in December, inventory may be depleted. You might need to be flexible with the make and model of your purchase.
The best days of the week to buy a car
In general, Mondays are good because dealerships tend to be less busy at the beginning of the week. With fewer customers, sales staff can spend more time negotiating and closing deals with potential buyers.
Many automakers also offer special financing and lease deals during three-day weekends. Memorial Day is one of the best times to buy, but Labor Day, Fourth of July and Presidents Day also typically have deals.
Comparing the best times to buy a used vs. new car
While this timing typically applies to buying both new and used cars, there can be a few differences you should be aware of.
If you’re looking to buy a new car, knowing when the latest version of a vehicle debuts could save you thousands on the previous year’s model. If not much changes have been made from year to year, you might be able to get a similar car at a lower price.
If you want to buy a used car, waiting until after a holiday weekend might give you more options as dealerships usually have an uptick in inventory from buyers who trade-in their old cars for an advertised deal.
When are the worst times of the year to buy a car?
Saturdays are often the busiest days at dealerships because most shoppers are off work. When staff is busy and the finance office is bottlenecked, there’s less opportunity fo[WC1] r them to spend the extra time needed for auto financing questions.
It may also be worth considering avoiding dealerships at the start of the month. Since sales quotas are usually due at the end of the month, staff might not be worried about meeting their goals in the early days and may be less likely to compromise.
Choosing the right time to buy a car
Ultimately, the right time to buy a car is when you’re ready. Even so, there are specific times throughout the year that can benefit prospective buyers more than others. With a little proactive planning and using the buckets tool in Ally Bank’s Savings Account to stash away your savings, you can be ready to purchase the car that’s right for you and your needs when the time comes.
