When is the Best Time of Year to Buy a New Car?

Buying a new car from the US is an exciting experience, but timing your purchase right can help you save thousands of dollars.

With seasonal promotions, monthly sales goals, and year-end clearance events, certain times of the year are ideal for securing discounts and incentives.

In this guide, we’ll discuss the best times to buy a new car, what factors impact car pricing, and how to make the most of these opportunities.

1. End of the Month

One of the best times to buy a new car is at the end of the month. Dealerships and salespeople have monthly sales goals they strive to meet, and if they’re close to reaching those targets, they may be more motivated to offer a discount to finalize sales.

By purchasing a car toward the end of the month, you may have more room to negotiate and secure a favorable deal.

At the end of the month, consider visiting multiple dealerships to compare offers, as they might be competing to hit their numbers and be more willing to offer incentives, discounts, or special financing.

2. End of the Quarter

Similar to end-of-month deals, buying a car at the end of each quarter March, June, September, and December can also yield substantial savings.

Dealerships often have quarterly targets in addition to monthly goals, and reaching these can result in bonuses or rewards from the manufacturer.

This makes them more likely to offer lower prices and favorable financing to finalize sales.

December is particularly lucrative as it marks the end of the fiscal quarter and the calendar year, which means there are typically the largest incentives, rebates, and discounts available.

3. End of the Year

The end of the year is often considered the best time to buy a new car. During October, November, and December, dealerships aim to clear out old inventory to make space for incoming models.

Manufacturers and dealerships offer aggressive promotions and discounts to encourage sales, which can include rebates, low-interest financing, or dealer incentives.

October marks the beginning of the model year clearance period, where dealerships offer markdowns on the current year’s inventory.

November includes Black Friday, one of the biggest retail sales days of the year. Many dealerships join in with Black Friday deals, making it an excellent time to purchase.

December is the ultimate month for car deals. Around Christmas and New Year’s Eve, dealerships are highly motivated to meet end-of-year targets and clear out stock. This time of year often brings the deepest discounts and best financing offers.

For maximum savings, shop during the last few days of December, when dealers are most motivated to move inventory and meet their annual sales goals.

4. New Model Release Time (End of Summer/Fall)

When manufacturers release new models, dealerships are eager to move the outgoing models to make space for the new arrivals. New car models typically start arriving in late summer and early fall, making this a great time to find discounts on the previous model year’s inventory.

Dealers want to avoid having older models on the lot as they lose value when the latest models arrive, so they’ll often offer incentives and rebates to clear out these vehicles.

If you’re not set on having the newest features or the latest model year, buying at the end of summer can help you save on an outgoing model with similar features at a lower price.

5. Holiday Sales Events

Throughout the year, several holidays and long weekends bring opportunities to save on a new car. Many dealerships host sales events that coincide with national holidays, with some of the best deals offered during:

• Presidents’ Day (February): Typically considered the first major sales event of the year, Presidents’ Day sales often include discounts and rebates on vehicles that dealerships need to move out after the winter.
• Memorial Day (May): Memorial Day marks the unofficial start of summer and is a popular time for promotions and discounts. Many dealerships offer price cuts and incentives as they begin to receive newer models.
• Fourth of July: Independence Day sales events are popular for dealerships looking to clear out mid-year inventory. These sales often include financing incentives and discounts on certain models.
• Labor Day (September): Another major holiday for car sales, Labor Day is an ideal time to buy a car. Dealers are eager to clear out summer inventory to make room for fall arrivals, leading to significant savings.
• Black Friday (November): As the holiday shopping season kicks off, dealerships often offer Black Friday promotions, including discounts, financing offers, and lease incentives.
• New Year’s Eve: As the final day of the year, New Year’s Eve is often when dealers offer the biggest discounts, rebates, and incentives to meet their end-of-year sales goals.

6. Considerations Based on Personal Needs and Availability

While timing your car purchase around these sales periods can lead to big savings, it’s essential to consider your personal needs, availability, and how urgently you need a car.

If you need a new vehicle immediately, waiting months for a specific holiday might not be feasible.

Additionally, the best deals may not apply to every model or type of car, so if you’re looking for a popular model with high demand, you may have fewer options for negotiating prices.

7. Buying at the Right Time for Best Deals

By understanding and following the best times of year to buy a new car, you can enjoy significant savings and increase your bargaining power:

• Best Times Overall: December (end of year), late summer/fall (new model releases), end of each month and quarter.
• Key Holidays: Presidents’ Day, Memorial Day, Fourth of July, Labor Day, Black Friday, and New Year’s Eve.

For the best results, do some research on the specific model you want and check for any manufacturer incentives, financing deals, or dealer-specific promotions available at these times.

Timing is essential when it comes to buying a new car, and knowing when dealerships are most likely to offer discounts and promotions can help you save thousands.

The best times to buy a car include the end of the month, end of each quarter, end of the year, around new model release time, and during major holiday sales events.

By planning your purchase during these times, you can maximize your savings and drive away with a better deal.

Whether you’re looking for a fuel-efficient sedan, a spacious SUV, or a reliable truck, keeping an eye on timing and dealer incentives can ensure that you not only get the car of your dreams but also the best possible price. Happy car shopping!