When Is the Best Time to Buy a Car? A Detailed Guide to Scoring the Best Deals

Buying a car is a significant financial decision, and timing can play a pivotal role in how much you end up paying. Whether you’re eyeing a brand-new model or a reliable used car, understanding when dealerships and sellers are most motivated to negotiate can save you thousands of dollars. 

The best time to buy a car depends on a variety of factors, including: 

• Dealership sales cycles

• Model release timelines

• Day of the week

Here's a comprehensive breakdown of the best times to snag a deal on your dream car.

End of the Month, Quarter, and Year: The Sales Cycle Advantage

One of the most universally recognized strategies for getting the best price on a car is shopping at the end of a sales cycle. Car dealerships operate on monthly, quarterly, and yearly sales quotas, meaning sales teams are more likely to offer significant discounts or incentives to meet their targets. If you’re looking for a deal, aim to make your purchase during the last week of the month or quarter. The end of the calendar year—particularly December—is often the best time of all, as dealerships are eager to clear out older inventory to make room for new models. This can translate into better financing options, cashback offers, or slashed prices.

Why do car dealerships offer discounts at the end of the month?

Dealerships have sales quotas to meet, and hitting those quotas often triggers bonuses for the sales team, making them more willing to negotiate.

Timing Around New Model Releases

Car manufacturers typically release new models in the late summer and fall, usually between August and October. This means dealerships are keen to offload the past year's inventory to make space for the latest arrivals. Shopping during this period can garner you impressive discounts on last year’s models, which often have only minor differences compared to the newest versions. While you might not get the latest features, you’ll benefit from steep markdowns on a brand-new car that’s still under full warranty.

What happens to old car models when new ones are released?
Dealerships reduce prices to clear out inventory, offering special deals to make room for the latest models.

Are last year’s car models worth buying?
Yes, especially if the new model has only minor upgrades. You’ll save money while still enjoying a brand-new vehicle.

Holidays and Special Sales Events

Certain holidays are prime opportunities for car buyers to find great deals. Memorial Day, Fourth of July, Labor Day, and Black Friday sales events are often accompanied by generous promotions. However, the real standout is the end-of-year holiday season, with dealerships offering some of their deepest discounts during Christmas and New Year’s sales events. Additionally, manufacturers often provide attractive financing options during these times, such as 0% APR or cashback incentives, making it easier for buyers to stretch their budgets.

Which holidays are the best for buying a car?
The best holidays include Memorial Day, Labor Day, Black Friday, and New Year’s Eve.

Are Black Friday car deals worth it?
Yes, Black Friday is known for aggressive promotions and discounts as dealerships compete for year-end sales.

Weekdays Versus Weekends: The Best Day to Buy

The day of the week you choose to visit a dealership can also affect the deal you get. Weekdays, especially Mondays and Tuesdays, are typically slower for dealerships, giving sales staff more time to negotiate and work with you one-on-one. In contrast, weekends tend to be busier, meaning salespeople are juggling multiple customers and may have less flexibility to cut deals. If possible, schedule your test drives and negotiations for a quiet weekday to maximize your chances of getting a better price.

What is the best day of the week to buy a car?
Mondays and Tuesdays are typically the best days because dealerships are less crowded.

Why is it harder to negotiate on weekends?
Sales teams are busier and less likely to spend extra time working out a deal during peak traffic times.

Seasonal Trends for Used Cars

If you’re shopping for a used car, seasonal factors come into play as well. Demand for SUVs and trucks typically peaks in the fall and winter when inclement weather makes these vehicles more desirable. On the other hand, convertible and sports car prices tend to drop during the colder months. Shopping for these types of vehicles in the off-season can lead to substantial savings. For example, buying a convertible in January could cost you significantly less than purchasing the same vehicle in July when demand is high.

When is the best time to buy a used SUV?
Fall and winter, as these vehicles are in high demand and discounts may be available.

Are convertible prices lower in winter?
Yes, convertibles and sports cars are often cheaper during colder months when demand is low.

By strategically timing your car purchase, you can take advantage of seasonal trends, dealership incentives, and special sales events to save money and get the best value for your investment. Whether you're in the market for a new or used vehicle, understanding the industry's timing can turn the car-buying process into a financially rewarding experience.

No matter when you buy, be sure to sign up for the Fasten credit card to reap valuable rewards on your monthly auto loan and lease payments.