Is there such a thing as a best month to buy a car? It turns out there is. According to Edmunds.com, the best months to buy a used car are October, November, and December, as these months correspond with the peak new-car buying season, which means more trade-in vehicles are entering dealerships’ used car inventories. More trade-ins provide buyers with a better selection of used cars — and better prices, especially if dealerships are trying to hit end-of-year revenue goals.
In other words, car dealers stretch to meet sales targets at certain times of the year, as well as to clear inventory for additional models. Let’s focus on the best time to buy a used car, as well as see if there’s a worst time to buy a car.
Holidays
Holiday weekends are ideal weekends to buy a used car. Primarily, you’ll be looking around Veteran’s Day, Black Friday, and Christmas Eve. There are usually a ton of incentives stacked around these holidays. November and December are prime buying months. What’s more is that there’s an added benefit that will last in the days immediately after each holiday. Since many people looking to take advantage of these deals will also trade in their current vehicles, you’ll often find lots packed with vehicles that have yet to go to auction. They’d sooner sell to you than have to rely on an unpredictable auction price. While this extra stock may offer additional variety, be aware that these vehicles won’t have gone through any refurbishment. The worst time to buy a car is also on a few select holidays. Mother’s Day and Father’s Day typically aren’t great days because there’ll be fewer staff at a dealership. Easter also tends to be light.
End of Fiscal Quarters
Car dealers aim to hit certain quotas by the end of fiscal quarters. Same goes for the end of the year and even the last weekend of each month. Salespeople and managers alike are pushing hard to meet expectations, so they’ll often be willing to make deals that are more favorable to you in order to boost their numbers. Their compensation is often linked to hitting a specific goal. The best places to try to find savings are in getting a larger overall discount, better loan terms, or by getting a few extras added.
Buy Against Season
Sometimes the best month to buy a car depends on the car you’re buying. Everyone wants a convertible in the summer. It’s still comfortable in Palm Beach during the fall and winter, but it’s rainier. Therefore, it’s harder to move convertibles. Dealers will be eager to sell you product they can’t move at that time of year. You’ll often get a better deal on a convertible in December than you would in May. Similarly, SUVs and larger crossovers are in high demand during rainy fall and winter. Bad weather on the horizon means rushes on larger cars. Buy these in May, June, or July while it’s sunny, before anyone starts trying to name the next hurricane. When you find a reliable, honest car dealership, though, it’s always a great time to stop in and look around for your next vehicle.
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Editor’s Note: This post was originally published in July 2019 and has been updated for freshness, accuracy, and comprehensiveness.
