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Car Buying Advice and Negotiation Strategies

 

The Debate over the Best Month to Buy a New Car

Car buyers often ask "what is the best month in which to buy a new car?" What do you think? Do you think there is a better month than another to buy that new car you want? I'm not so sure if the month of the year matters all that much – because by waiting you can lose out on the car that you want, or hold out for a better price that never materializes. Sometimes it pays to wait and other times it pays to be first in line.

The best month to buy that new car is the month you need a new car.
You’re probably smiling and nodding in agreement at this one. Anyone who needs a new car is not too concerned about the debate between March or November. If it is May, and you need a new car then you’re not going to wait until next March or November to get the best new car price. You’re going to buy that car between May and July when you find the best new car for you. So don't put a lot of value in one month or the other – the best month is the one you need the car.

Best Month to Buy a Car?No matter what month you are car shopping, try to wait until the last week of the month before negotiating.
The reason for this is because dealerships and salesmen all have monthly quotas to meet. Your car purchase could be the sale that earns your salesman a $1000 bonus. Don’t you think he would be willing to work with you to get that? Car dealerships earn bonuses on lots of different things - from the number of models they sell, to the ratings on their customer satisfaction surveys. Catch them at the end of the month and they will be much more willing to take less profit in lieu of reaching their bonus goals.

The third quarter and fourth quarter of every year is also a popular time to deal.
This is when next year’s cars are coming in, and so last year's models need to be cleared out. September through December is typically an excellent time to buy a car, with a special emphasis on the end of the year. Buying from the remaining inventory at the very end of the year can often save you thousands of dollars. The only frustrating thing about buying a car at this time is knowing that the hottest new models are right around the corner – offering innovations and improvements on the same car model you are looking at now. Some little “quirk” in the car you buy today could be completely gone in the new model. That’s a chance you take when buying at the end of the year.

Holidays all year-round offer another excellent time to buy a car.
Just look at the calendar and you’ll see many holidays where special deals and discounts are offered on new cars. Veteran’s Day and 4th of July are two examples where you'll see a barage of promotions and advertisements. Memorial Day and Labor Day weekend are also excellent choices for car buying. Consider other holidays and how they align with your current purchase schedule. If you can wait until the next holiday comes around, then it might save you several hundred dollars. This can come in the form of a lower price, or even better options included with the vehicle.

In the market for a new car? Make sure you are prepared before signing on the dotted line. Read through my New Car Buying Guide for helpful advice on getting the best price on your new car