4 Best Months to Buy a Car | Neighbors Federal Credit Union

4 Best Months to Buy a Car


CU Insight published the four best months to buy a new car. Here’s what they wrote:

“From Mondays when business is slow to right before closing when salespeople are in a hurry, there’s no shortage of theories about the best time to negotiate the best price on a new car. But what if you’re not a Monday person or you work the swing shift?”

“We’ve made it easy by providing the four best months to negotiate a new car deal.”

May

“Memorial Day weekend kicks off the “big sales event” season for car dealers from coast to coast. And of course, the typical Memorial Day sale runs longer than just those three days. If you want to head into summer in a new ride, this is the time to do it.”

“Also, according to data compiled by TrueCar, Memorial Day weekend is an especially good time to shop for a mid-size SUV.”

October, November and December

“Yes, all three of these are good months to go car shopping, but each month for a different reason – and a different type of car.”

“October is the first month that dealers really become aggressive about clearing out the previous model year. According to TrueCar’s data, buyers in October average nearly 8% savings off MSRP.”

“October is also a slow month for full-size pickups. With supply high and demand low, it’s an especially good time to deal on that F-150 or Ram 1500. Most pickups don’t change much from year to year, so if you’re willing to accept a truck from the previous model year, you may find yourself with a screaming deal.”

“Black Friday is supposed to be all about retail. However, in recent years, car dealers have jumped on the Black Friday bandwagon, too.”

“TrueCar data suggests that November is an especially good month to buy midsize and compact cars. However, you’re well-advised to avoid SUVs and crossovers in November. Sure, supply is ample, but so is demand. Dealers are less likely to deal on whatever’s hot at the moment.”

“By the time December rolls around, car dealers aren’t thinking only about clearing out the previous year’s models; they’re thinking about hitting their annual sales goals, too. The big push is on to close deals.”

“If you’re in the market for an SUV, TrueCar’s data indicates that waiting until December will pay off. Regardless of what vehicle you’re looking for, keep this in mind: While you may get a great deal on the previous model year, by December your choices will likely be very limited.”

You can read the full post here. If you’re considering buying a new car soon, get your process started by applying for an auto loan!