2023-09-15 19:19:43
Aside from certain times of the week or holidays, some months are better than others for buying or leasing new vehicles or purchasing used cars.
Generally, May, October, November, and December are the best months to visit the car dealership. This time we inform you what are the best times of the year to buy a car and why.
The month of May
May marks the start of the busy summer shopping season, with traffic picking up after winter and the start of spring. Automakers and their dealers begin rolling out their Memorial Day deals well in advance of the holiday.
This means that the most extensive and generous cashback, financing and leasing offers of the year will also be available in this window.
Traditionally, auto show season has extended from late fall to early spring, although this is changing. Many of the vehicles presented by manufacturers at auto shows begin to appear in dealerships in late spring.
If there are previous year’s models left at the dealership, you’ll likely find deals on those vehicles.
The month of October
For the automotive industry, the new year really begins in October, with many all-new and redesigned models hitting dealerships.
That means they have to pull older models from dealerships. The changes result in more incentives and discounts than shoppers will find in most other months.
The month of November
In addition to the continuous model sales that occur during the fall, November includes Black Friday. Shoppers who skip the chaos of department stores and shopping centers and head to car dealerships can save a lot of money.
Deals tend to increase throughout the month, as automakers offer great low-cost financing incentives and generous cash back car deals all month long.
The month of December
Dealers and their salespeople spend the month of December racing towards the finish line of their monthly, quarterly and annual sales goals. The month prepares for the best days of the year to buy a new car.
Dealers are often supported by automakers who offer attractive financing and cash-back offers. There may also be some older model vehicles still on the lot that they will want to get rid of before the end of the year.
December is also the time when many companies look for year-end tax relief. Automakers know this, and many offer attractive leasing deals to capture your business. Those same deals are typically available to private car buyers.
Black Friday
Like other businesses, car dealers hold car sales on Black Friday with great deals.
In addition to being part of the long Thanksgiving weekend and kicking off the Christmas season, Black Friday also marks the end of the fall sales season.
It’s also close enough to the end of the calendar year for dealers and their salespeople to keep an eye on their year-end sales goals.
Just like other holidays, do your research ahead of time and be prepared with a pre-approved loan. If you’re thinking about leasing a car, make sure you know the pros and cons of leasing versus buying.
Knowing how much you can afford with monthly lease payments and the total cost of leasing is essential to getting the best deal.
New Year’s Eve and year-end sales
New Year’s Eve and New Year’s Day are some of the best times to buy a new or used car.
These days are typically packed with special year-end sales events and are supported by great financing and leasing offers from automakers.
End of the year
Although a new car can arrive at any time during the model year, fall is still the traditional season when new vehicles appear at dealerships.
Before that happens, outgoing models are often discounted. Discounts may be announced or only known to dealers, who decide whether to pass them on or not.
In general, vehicles that are renewed with few changes receive the least discounts. If a car is renovated, some features are added and its appearance is updated, the discounts are usually greater.
When a vehicle is completely redesigned, the discounts over the old model can be substantial.
When a car has been redesigned or discontinued
Cars have design cycles and life cycles. A design cycle is the time between complete redesigns and is usually, but not always, about five years.
For frugal buyers, a good time to buy or lease is toward the end of a vehicle’s design cycle, when other buyers are looking at the new model.
Automakers start promoting car leasing deals, financing and cash-back incentives before new models arrive.
The life cycle of a car ends when the manufacturer decides to stop manufacturing it. You can save a lot of money if you are willing to buy a car at the end of its life cycle. Often, when manufacturers announce the imminent withdrawal of a vehicle from the market, great purchase and leasing incentives are offered.
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