December is the best time to buy a car as you get the biggest savings on your car purchase. Usually, seasonal trends, year-end incentives, the pressure to meet dealership sales quotas, and the need to create room for new models are the driving forces for highly discounted cars during December.
Key takeaways
- December is the best month to buy a car
- During a particular month, the end of the month is the best time to buy a car as dealerships and salesmen try to meet their quotas for maximum bonuses.
- Monday is the best day of the week to buy a car due to reduced customer traffic which leads to securing a discount
- The end of each quarter(March, June, September, and December) is also a good time to buy a car. Just like the end of the month or year, dealerships offer discounts at the end of each quarter to meet their quarterly targets.
- Holiday seasons such as Martin Luther King Jr. Day, July 4th, Veteran’s Day, Christmas seasons, etc. also come with exclusive discounts for maximum savings.
When is the best time to buy a car?
Months leading toward the end of the year, especially November and December are usually the best time to buy a car. You are more likely to buy a car at the lowest price and highest discounts and incentives at the end of the year than at the beginning of the year. The best time to buy a car during the month is usually toward the end of the month as dealerships and sales teams are trying to meet their sales quotas to earn bonuses. When comparing days of the week, the best time to buy a car is usually on Monday.
Like any other sector, the automotive industry is also driven by supply and demand. This means there are months, days of the week, or days of the month when cars are usually offered at higher discounts than other days or months.
In December, dealerships typically have a surplus of inventory from the current year that they are eager to offload. They want to make space for the new models for the following year. This abundance of inventory puts you in a strong position to negotiate a lower price on your car purchase, as dealerships are more likely to offer discounts and incentives in order to clear their lots.
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Why is December the best time to buy a car?
If you are in the market to buy a car, December will be the best time to get huge discounts.
Here are reasons you should wait and buy a car towards the end of the year.
Seasonal trends affect car prices in December
Understanding the seasonal trends is crucial when it comes to buying a car. One trend to keep in mind is the decrease in customer foot traffic during December due to the Christmas season. With the holiday season in full swing, many people have their minds focused on gifts, celebrations, and family gatherings, rather than car shopping. This decrease in demand can work to your advantage, as dealerships may be more willing to negotiate and make deals in order to attract buyers.
Dealerships need to create more room in December for new car models
As the year comes to a close, dealerships focus on clearing out their current inventory to make room for the new models coming in for the following year. This can create a situation where supply surpasses demand, giving buyers more leverage during negotiations. By understanding this trend, you can approach the car buying process knowing that dealerships may be more motivated to sell off their remaining stock at discounted prices.
The end of the month is also a good time to buy a car
Salespeople and dealerships often have quotas to meet, and they may be more motivated to make a sale before the of the month to meet that specific month’s quotas. Not only do they try to get rid of old inventory, but they also try to meet December’s sales quotas. This gives you bargaining power and allows you to score a huge discount on your car purchase.
December comes with higher dealer discounts and clearance offers
It is best to buy a car in December because of the availability of clearance offers. These offers are designed to entice buyers with even more substantial savings. Dealerships may offer incentives such as cash rebates or generous trade-in deals, further reducing the price you pay for your new vehicle. Taking advantage of these clearance promotions can help you secure a better deal and maximize your savings.
Additionally, dealerships may also provide exclusive discounts for customers purchasing a car during the year-end period. These discounts can be in the form of manufacturer incentives, dealer-specific promotions, or even employee pricing. Before making a purchase, research local dealerships and check their websites or contact them directly to inquire about any ongoing discounts or offers.
Best time to buy a used car
The Christmas holiday season is a fantastic opportunity for those looking to buy a used car. Just like with new cars, dealerships are motivated to meet end-of-year sales quotas, and this holds true for used cars as well. Sales agents are eager to close deals and achieve their goals, which means they may be more willing to negotiate on prices and offer attractive incentives. This means December is still the best time to buy a used car.
When used cars or old models are not sold in December, however, dealerships might extend their incentives offers and discounts toward the month of January. According to data reported by iSeeCars, you get more discount of at least 5% when you purchase a car in December. When analyzing seasons, the data showed that late spring offers fewer discounts on used cars than discounts you get from late fall and early winter. Summer months also come with lower discounts compared to the fall season. This means that the winter months toward the end of the year are the best months time to buy a used car.
The other best time to buy a used car is to shop during the holiday season. Dealerships and manufacturers offer promotions and incentives for used vehicles during the holiday season. According to the iSeeCars report, the holiday of Martin Luther King Jr. offers the highest savings on used cars at 39.2% more deals and discounts compared to 18.6% of the 4th of July holiday. These can include discounted financing options, rebates, or limited-time offers. By checking out holiday deals, you can further enhance your chances of saving even more money on your used car purchase.
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What is the best time to buy a new car?
If you’re in the market for a brand-new car, December can still be an advantageous time to make your purchase. Dealerships usually seek to meet their end-of-year sales goals which come with generous offers and discounts.
On top of these incentives, dealerships need to make up room for new models that are coming in for the following year. This added pressure together with the Christmas season which lowers the customers’ traffic adds extra pressure to dealerships. Hence lowering car prices even more.
Related: Why is it a bad idea to buy a new car?
What is the best month to buy a new car?
If you are comparing months to months, December still comes on top as the best month to buy a car. Similarly, October and November also offer more discounts and sales than other months due to end-year anticipation.
While December offers a combination of factors that make it an attractive time to buy a car, other months also have their own unique advantages. For example, January can be a promising month for car shopping as dealerships often experience a drop in sales after the holiday rush. There is also the Martin Luther King Jr. Day holiday which comes with its own discounts. This means sales agents may be even more motivated to make deals and move inventory to start the new year on a strong note. While you can get discounts in January and February, these months are the least discounted compared to any other months of the year.
The summer months, on the other hand, present a different set of advantages. As the summer months approach, dealerships often start receiving new inventory and need to make space on their lots. This can lead to competitive pricing and attractive financing options for buyers. Summer months come with better auto discounts compared to spring months.
As the fall season kicks off, dealerships increase discounts and incentives to boost their sales. So, you are more likely to get a higher discount when you purchase a car in the months leading toward the end of the year.
In short, the beginning of the year comes with fewer discounts which increase toward the summer months and top by the end of the year.
Best day of the week to buy a car
When it comes to finding the best time to buy a car, it’s not just the month that matters. The day of the week can also play a significant role in getting the most out of your car shopping experience. While there isn’t a universal rule that applies to every dealership, understanding the dynamics of the car buying process can help you make a more informed decision.
Monday is the best day of the week to buy a car. Many dealerships tend to have slower traffic on Mondays, as people are usually busy with work or other weekday activities. With fewer customers visiting dealerships, salespeople might be more willing to negotiate and offer better deals to close a sale.
Worst time to buy a car
The worst time to buy a car is usually during weekends, the beginning of the months, late spring, and early summer. Weekends tend to attract an influx of car shoppers looking to take advantage of time off work or holiday promotions while at the beginning of the month card dealerships are less inclined to offer discounts. With an increased number of customers, dealerships may be less motivated to offer attractive deals since there is already high demand.
For late spring and early summer, there is usually less inventory but the demand is relatively high. This high demand keeps prices higher and dealerships offer fewer discounts and incentives.
