Here’s the scoop on the best time to find a deal on your next vehicle purchase.
Waiting for the End…
Most of us have heard that you can score a better deal at the end of the month. Typically, salespersons are trying to hit a bonus and dealers may need to make space for new cars. But the same can potentially be true for buying your vehicle at the end of any period.
- End of the Day
- End of the Month
- End of the Quarter (March, June, September, December)
- End of the Year
The end of the third quarter is typically right before new-model-year vehicles are coming out. This means this fall you could find a steal on a 2020 model, just by watching certain dealerships and waiting for those incentives to make room for the new models.
It may not be how you want to celebrate a holiday weekend, but dealerships are always advertising discounts and rebates for the holidays. However, when it comes to used cars, some holidays steals outrank the others, according to a study from iSeeCars.com, a car shopping comparison site. Here are top holidays to get the best deal on a used vehicle:
- Black Friday
- Veterans Day
- Thanksgiving Day
- Columbus Day
- Martin Luther King Day
- Christmas Eve
- Christmas Day
- New Year’s Eve
- New Year’s Day
Notice the same thing we did? That’s right, all these holidays are from September to January, the top 3 in November.
Some other tips:
- Go early in the week, or late in the day. Weekends are typically the busiest time for a dealership, so you’re more likely to get better attention early in the week. However, if your schedule requires you to go on the weekend, going later in the day can sometimes work towards your benefit.
- Shop online prior to making your visit and do your research. Take care of all your questions before you visit so you know which vehicles you want to test drive when you visit the car lot.
- Don’t always expect discounts for cash. Dealerships make more money by financing you than getting cash. Which is why it’s best to get a pre-approval from your financial institution for haggling power with a set amount of money at rates you know you can afford.