When is The Best Time to Buy A Car?

Maybe it’s about time to get a new (or new-to-you) car, but you’d also like to see if you can get a good deal. If you allow yourself for some preparation, you can avoid some common car-buying mistakes and land yourself a great deal at your favorite local dealership.

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Here are tips from Dan Cummins Chrysler Dodge Jeep Ram of Paris, a full service dealership right in Paris, Kentucky, to help you decide on the best possible time to purchase that new car.

Before It’s an Emergency

The best time to buy a car is before you already absolutely need it. Last-minute decisions can mean you buy what’s available now as opposed to what you really want out of a vehicle. If you give yourself enough time to do thorough research, you’ll be able to get your finances together and come up with a list of features you want in your vehicle of choice. Our team can then help get you into the best vehicle that truly fits your lifestyle.

Toward the End of the Month

Oftentimes, dealerships will offer various discounts at the end of the month to help sales representatives meet their monthly sales goals. Sales representatives can often offer you additional savings or incentive programs to help you get into that new car by the end of the month. At the same time, though, each dealership has different quota policies, so some dealerships might offer these incentives at a different time. But no matter what, it can still potentially save you money during the financing process.

Early in the Week

There is a high chance of getting a good deal for a car purchase on a Monday (or even a Tuesday) because so many other potential customers already came in over the weekend. After that weekend rush is over, a sales representative can spend more time with you, getting to understand all of your needs. Just think about the fact that other people will also be car-shopping on major three-day weekends, so Tuesday is also a good choice. You’ll still get that deeply individualized service that gets you the best deal on the vehicle you want.

During a Three-Day Weekend

We did mention that a lot of people shop for cars on three-day weekends, and there’s a good reason why. Whether the holiday falls on a Friday or a Monday, car dealerships offer matchless promotional deals and amazing incentives during these long weekends. The four most popular three-day weekends for car deals are Labor Day, Memorial Day, President’s Day, and the 4th of July. Labor Day and Memorial Day weekends usually have the best combinations of promotional prices and vehicle selections, but President’s Day and Independence Day offer good price reductions, too.

We recommend visiting our showroom earlier in the week to narrow down your options, get some questions answered, and test drive your favorites. Then you’re prepared to buy right away when those deals activate over the weekend.

During Black Friday

Black Friday is one of the biggest consumer holidays for nearly every industry. As a result, car dealerships often take advantage of this customer mindset of shopping for the best deals to provide huge discounts on major models to increase their sales. The dealership is thinking ahead to their year-end sales targets and wanting to clear out excess stock before any model refreshes, so sales teams are motivated to move inventory.

Just like with those three-day holiday weekends, we recommend planning way ahead of Thanksgiving. Start your research earlier in the month, and feel free to ask our team any questions while you test drive what we have in stock before you clinch the deal.

At the End of the Calendar Year

Even after Black Friday ends, you can still see a good amount of discounts at your local dealership through the month of December. Dealers are looking hard at those end-of-year targets by now, and they can offer incentives, deep discounts, and extra amenities to help you get the car you’re looking for as well as secure higher sales figures. Data shows that December is one of the cheapest months to purchase a vehicle, as sellers are pushing to close their deals before New Year’s Day.

At the End of the Model Year

Manufacturers usually release a new model every year, so when the new model comes into the store, dealers work to reduce their stock of older models and trims to make room. This tends to happen during the end of summer and into the start of fall. Having the newest editions in stock means that last year’s model now has a lower level of demand — as well as price. So if you’re looking for a newer vehicle but don’t necessarily need the most recent model year, this is a good option for you.

Be sure to compare any new features to the outgoing model before you close the deal. The more updated the features are in the refreshed model, the greater of a discount you’ll most likely see.

When a Car Is About To Be Redesigned or Discontinued

Vehicle models don’t always change that much from one year to another. But sometimes, a new model year brings with it a total redesign of a given vehicle, from the exterior shape to the array of interior features. When this is happening for a car brand that you love, you can treat this just like you would the end of a regular model year. You can snap up the previous design for a significantly lower sticker price than the newest release.

Also, sometimes entire model lines get discontinued, maybe to make room for something totally new or because that model wasn’t very popular. Either way, keep an eye on any advertising that says a particular model is going to be discontinued.  You’ll be able to get substantial discounts and even financing deals so that the dealership can clear it out.

No matter when you decide to take advantage of these deals, be sure to prepare in advance. Research all of your options, and get in touch with our financing department to see what options you have. We’ll be glad to help you get into the vehicle that’s best for your needs.

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