Last year, approximately 17.23 million new vehicles were sold in the U.S. Whether you’re on the hunt for your first car or your fifth, we all want to drive away with the best deal
. As crazy as it sounds, strategically planning the timing of your shopping trip can translate into significant savings. Here are the best times to get the car you want at a price you’ll love.
Wait until the end of the month
It’s no secret that most dealers have monthly goals they must hit to qualify for sales bonuses. Use this to your advantage by waiting until the end of the month to purchase your car. You’ll have even better luck if you shop on a weekday near closing time. With time running out, they’ll be more willing to work with you especially if their goal is within reach. It’s a win-win situation. They’ll close the deal and you’ll get your car at a great price. Just make sure you know what you want and practice your negotiation skills beforehand.
Shop at the end of the model year
Don’t care about having the latest design? Well then, you’re in luck. You’ll get the biggest discount on this year’s model by purchasing it at the end of the model year. In other words, buy a 2017 vehicle when the 2018 models start rolling onto showroom floors. Since most shoppers will be focused on getting the newest version, older models will be deeply discounted to get them off the lot. Getting the timing right will require some research because the release dates vary based on the manufacturer. Typically, next year’s models are released between late summer and early fall.
Skip the springtime rush
Whatever you do, avoid looking for a new ride during the spring. This is a horrible time for buyers for a couple of reasons. First of all, warmer weather means more foot traffic for car dealerships. Throw in the fact that everyone is armed with their refund checks and you’ll quickly notice that dealers aren’t hurting for your business. Since this is a busy season, they’re less likely to offer discounts and other incentives. Do yourself a favor and hold off until things slow down later in the year. Waiting until a holiday weekend such as Black Friday can save you thousands of dollars on a brand new car.