One of the most asked questions about car dealerships is if there is the best time to shop. Is there a better day of the week, time of the month, or period of the year to get the best deals? Knowing when to start exploring car dealerships for your next vehicle can potentially save you thousands.
Of course, if you ask a car salesperson when is the best time to buy, they’ll tell you, “today!” Otherwise, there are plenty of urban legends and hearsay about when to shop. Instead of relying on rumors and speculation, it’s best to look at what the data says.
Read on to learn about the best time to explore car dealerships near you for a great deal on your next car.
The End of the Month
Regardless of what kind of product you’re buying, it’s safe to assume that your local retailers have monthly goals. As the end of the month approaches, sales teams struggle to meet their goals. That means they are more likely to offer a good deal.
Car dealerships don’t just rely on sales goals to earn a monthly commission. Meeting sales goals can help dealerships get more vehicles shipped to them from the manufacturer, including more popular models.
Except for during three-day holiday weekends, Mondays are the best day of the week to buy a car. Weekends are normally the busiest times, which can make it difficult to get in-depth answers to your questions or negotiate pricing.
Monday tends to be a less busy day for car dealerships. That means you can take your time or at least avoid waiting in line. Another benefit is that lenders are open on Mondays, which means you can make sure that you’re getting a good rate.
Many people believe that the best car deals come during the winter months and around the holidays. New models typically hit the sales lots in the fall, which means many shoppers will trade in their old cars to upgrade to new ones. You also have the remaining inventory from the current model year getting in the way of new models.
In theory, the surplus of available cars should help you lock in a better price. Throw in that it’s the end of the fiscal year, and you’ve got a recipe for savings.
Before You Need One
The worst time to buy a car is when you really need one. Regardless of the time of year, month, or week, you are never in a good position to negotiate when you are desperate. If you have time pressure to find a new car, you won’t be able to search car dealerships for the right deals or take the necessary time to research and plan.
The best time to buy a car is before you actually need one. You can take your time to decide confidently what you want and how much you can afford. You can then take advantage of the end of the month, end of the year, and Mondays to find your next great ride.
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