Buying a Car at the Right Time Could Save You Money
Everybody knows you shouldn’t pay sticker for a new car. You can get a vehicle between 7.5 percent and 8 percent below MSRP, depending on the year and the type of car. If you’re looking to maximize those discounts, when is the best time to find the best deal?
Deals vary throughout the year as cold weather keeps buyers at home, car dealers work to clear inventory off their lots in preparation for new models, and sales staff work to maximize their monthly, quarterly, and annual bonus incentives.
To find out when incentives are highest, we checked with TrueCar.com, which monitors millions of sales from thousands of car dealerships all over the country. TrueCar tracks sales incentives by the day, week, and month, and publishes the average discount for each. It also tracks the best times to buy certain types of cars, such as SUVs, pickups, and sedans. This slideshow is based off of TrueCar’s analysis of the 2015 vehicle market.
When those discounts peak is sometimes surprising. The best times are usually not on the big holiday weekends when dealers run the biggest ad campaigns trumpeting their discounts. Presidents’ Day weekend and the Fourth of July are particularly bad times to buy a new car, if you want to get a good deal.
Here are six of the best times, in no particular order: