THE BEST DAYS & TIMES TO BUY A CAR

Dealers and car manufacturers want us to believe that every day of the year is the best time to buy a new car. And for them, that’s definitely true. But for the rest of us, there are some key times of year that can help us save a few dollars on our next ride that may be worth the wait.

Mondays & Wednesdays

Sure, the weekend is a convenient time for you to peruse a car lot since you probably don’t have to work, but dealers recognize this and staff accordingly. Since fewer potential buyers visit a lot on Mondays and Wednesdays, a salesperson likely has more time to negotiate with you. A recent study from TrueCar found that buyers can save $300 on average by purchasing a car on Wednesday compared with Sunday.

End of the Month

This won’t come as a surprise to seasoned car buyers. Automakers, dealers, and salespeople generally have monthly sales targets—often with handsome bonuses attached to them. If you’ve identified a car you like, consider visiting a dealership between the 16th and 20th of the month. Don’t lock in the deal. Instead, wait until the last two or three days of the month to negotiate when you may be able to get a better deal.

Model Transition Season: Fall

Fall, or more specifically, October can be an excellent time to get a good deal on last year's models as next year's models start hitting lots. To make room for new inventory, dealers have an incentive to move last year's models. This means discounts and extra room for bargaining. TrueCar found that buyers can expect up to 8% off MSRP when they buy a car in late October. Also, some models transition in late summer or into early winter, so do your research to see when it will be the best time to hit the lot for your desired make or model.

Holiday Sales Events

Automakers create sales events around various holidays throughout the year to move inventory, and these events usually are tied to deep rebates or special financing. While Memorial Day typically sees some of the best offers according to Forbes—the Fourth of July, Labor Day, Christmas, and New Year's also offer heavily promoted sales events. Dealers may also sweeten the deal at these times by offering discounts of their own.

Before You Hit the Lot

Once you've identified the best time to buy your next car, it's important for you to learn as much as you can about your next vehicle. That includes everything from the sticker price to standard equipment and options, plus rebates, financing, and more. Websites such as KBB.com and Edmunds.com are great resources to learn what the dealer paid for a vehicle.

Want to know more about car buying and financing? Visit Auto Buying and Auto Loans on our website, where we’ll help guide you from finding to financing, from purchasing and protecting the new or used car that’s just right for you.

The content of this article is for informational purposes only. AAA does not provide financial advisory services and does not guarantee any particular outcome.