When is the Best Time to Buy a New Car?
When buying a new car, you might be wondering if there’s an ideal time to take advantage of a clearance sale or car specials and promotions. It’s a natural curiosity, since everyone loves to save money. At the same time, it seems like everyone has preconceived notions of when is the best time to be shopping for a vehicle, like Black Friday or the Fourth of July, even though those might not be based on facts. To help clear up the confusion, we here at JL Freed Honda want to offer the following information.
According to US News & World Report, the type of vehicle you want to buy has an effect on the car deals you might see and when. Shopping for a pickup truck? October can be a great time to head out. November is great for sedan sales in general. As for midsize crossovers, they typically see the biggest discounts in May.
The reason for these differences is when the new models roll out for different vehicle types. Of course, not all manufacturers release the new model year at the same time as the competition, so understand that this information is useful in general, but not in each specific case.
As Edmunds points out, if you can hold off on buying a new car until the new model year is releasing, you can get some good deals. Of course, the big discounts go for the previous model year, since dealerships and automakers are eager to clear out the old stock.
Again, this depends on the manufacturer or brand. Some like to release new models at a specific time of the year, where with others it depends on the vehicle. With some research, you can uncover when a car you’re interested in will see a model year changeout.
You also need to time things just right. Sometimes inventory closeouts happen well before the new model year releases, so you need to be ready for that. Other times, those big incentives and deep discounts don’t roll out until the new model year starts arriving at dealerships. Figuring that out is a matter of research.
End of the Year
Multiple organizations that have looked at vehicle sales data claim that in general, some of the biggest deals are offered starting on Black Friday through the end of December. Several factors can make that true, which is why getting a new car for the holidays can be a wise move.
First off, dealerships and automakers want to close out the year with one last positive sales push. The more cars they sell, the more market share they can claim. That’s something investors like to see. With that in mind, you can take full advantage of that trend.
Quite a few new models arrive at the beginning of winter or the end of fall. That means dealers are looking to unload the previous model year.
The best time for you to buy a new car is when it works best for your specific situation. Come to JL Freed Honda at any time and we’ll offer the best deal possible.