There are arguably a few different times throughout the year that are ideal for buying a car. But December is the best time to buy a car.
It’s enough that dealerships are generally emptier during the holidays due to people traveling, but sales teams have looming quotas to meet before the year’s end. To put it simply, they want cars out the door. And the best way to do this is to run unbeatable deals.
In fact, consumers can expect to get almost 8% off MSRP values when buying a car in December as opposed to waiting until January.
Like any big purchase, it’s important to do your research before you buy a car, so do your research (and maybe even test drive a few) during the fall. This will give you plenty of time to decide what make, model, and trim options you want in your dream vehicle. But when it comes to making a purchase? Pull the trigger between Black Friday and New Year’s Eve.
Here are just a few reasons why December is the best time to purchase a car:
Dealerships tend to be slower during the winter months, so in order for the sales team to meet their quotas, they will be desperate to get cars out the door and on the road. This means you, the buyer, will have better leverage to get a great deal on the vehicle you desire. Take advantage of an empty dealership to ask lots of questions and get in-depth about the car’s features, amenities, safety ratings, and when it comes down to price, don’t be afraid to haggle.
October, November, and December see a lot of new makes and models come onto the scene in preparation for the new year. But this means the old inventory has to find a new home so there’s room on the lot. Meaning… prices will drop. If you are shopping for a car, instead of buying a 2019 model, look at 2018 models instead. The prices will be significantly lower because they aren’t the newest model on the market anymore. But December is when the prices hit the lowest – the longer a car sits on the lot unsold, the lower the price drops.
You may not think about this when you are purchasing a vehicle right away, but having a safe and reliable vehicle can bring you a lot of comfort during the winter months when road conditions are treacherous. Having a vehicle with new tires, top-notch braking capabilities, and updated technology can give you more confidence when you are driving on slick and snowy roads.
Everyone loves a little extra cash for a holiday bonus. Why not put it to use and put it towards a down payment on a vehicle. If you can put down a higher percentage, you will be able to get a better interest rate, or better yet, if you can pay with cash, there’s a huge chance you can talk down the price even further!
If you’ve been dreaming of a new car, now is the time. This is the best time to buy a car, so put your haggling skills to use and be prepared to get the best prices on the market!