The best time to buy a car

Timing is everything and if you're in the market for a new car, good timing can actually save you money. There are many times throughout the year when there are excellent deals on new cars. It seems, everywhere you turn, there are calendar year-end deals, model year-end deals, discounts, rebates, and other promotions. So, when is the best time to buy and how can consumers take advantage of these deals? Here are some good times to hit the showroom.

End of the month
Many dealerships establish monthly sales quotas that encourage each salesperson to make a certain number of deals. This means that during the last week of the month, especially the last weekend, salespeople are hungry to make a deal--their bonus may depend on it.

End of model year
Most manufacturers bring out their new model year vehicles in the late summer and continue their product launches throughout the fall (sometimes, new models come out year-round). This is a great time to get bargains because dealerships are trying hard to unload any "leftovers" from the previous model year. However, if you want to trade that car in two years from now, it will be appraised as a three-year-old. But if short-term depreciation doesn't matter to you, there are great deals to be had with these models.

End of calendar year
There may still be "leftovers" from the previous model year available and automakers are looking to close the year with strong sales. They also want to get out what they can because the winter months are typically their slowest season.

Rebates & incentives
Manufacturers offer rebates, incentives, and cheap financing throughout the year, but they often coincide with a holiday, long weekend, or special promotion. Some manufacturers may even put a rebate on a new vehicle just to stir up interest and demand.

Car Buying Resources
Check out Consumer Reports' list of the current deals on recommended vehicles.
To track the latest deals on new cars, use the Best New Car Deals RSS feed.
Also, talk with other car buyers in our buying and leasing and your best deal forums.

Comments

[Auto Repair and Maintenance]

im on a lookout for a car and this tips help a lot. thanks!

[Debra]

I want to buy a new car now, at the end of this month (JULY). I see they have a rebate of 3,000. But I still do not know If this is the best time. I read somewhere that through July - September Is a good time. what should I do.

[Alaskan]

Sure that all sounds great, but I've spent a lot of time in dealerships and left with nothing but frustration, keys or not. Buying from a private owner with a solid maintenance schedule is definitely the way to go. You can certainly find cars that are just a few months old or even a year or so, that still have transferable factory/manufacturers warranties. You'll save thousands off the price just eliminating the fees and financing charges of the dealerships, and the best part....you don't have to deal with pesky car sales men! Lots of people out to sell their car, will work with you to fit your budget if it means they're getting out of their payment, and some are willing to meet you at the bank to hash out the details for a good clean exchange, when it comes to getting financed. Happy hunting

[Ed]

One thing for sure, there is no time of the year that the salesperson won't try to soak you first,before offering you a better deal. The best deal is usually obtained by the smart, knowledgable buyer who does a little research first before going down to the lot. Getting second & third qoutes at other dealerships can also help.

[Gene Klinkerman]

I have been in the new and used car sales profession for 35 years, am very proud of what I do, and have worked at the same dealership for several years. I don't know who Ed is or what he does for a living but I can assure him that there certainly are good dealerships and salespeople to do business with as there is in any type of retail business. If you don't want to get "soaked" as he puts it, come to Four Stars Auto Ranch in Henrietta, Tx.

[JohnLa]

I've been buying new and used cars for 30 years. When I was younger I worked for several car dealers in various capacities (parts and service related).

Personally, in my own experience, I have never ever dealt with a car dealership that didn't try to rip me off, either as an employee or a customer. I've actually watched videotapes of "motivational" car sales training sessions where sales staff are told how to lie to and trick customers.

Parts and service departments are just as bad. A good and honest mechanic is worth their weight in gold. Dealer mechanics may be honest, but you have to work through salesmen called "service advisers" who are also trained to separate you from your money. I know. I was one for many years.

"Let the buyer beware" is never more true than at the car dealership. My advice: Never trust, always verify. Don't become emotionally attached to the car. Don't take anything personally. Good or bad. They are trained to make you feel like you owe them something. There will always be a another deal on another car. Be willing to walk away at any point until you sign the papers. Don't sign any paper without reading it, even if it takes extra hours.

Once, after agreeing on the price of a new car, and being made to wait literally 2 hours to get to the point where we would sign the papers, the price on the papers was EXACTLY $1000 more than the agreed price. When I complained, the correction was made without any hesitation, explanation or apology.

Buying a car is always an ordeal. If you are not up to it, bring a friend. Good luck.

[Garry Ludescher]

Poor John sounds like he worked for some real winners. I have been in the auto business for 35+ years. I have only experienced what John did once. It was when I worked for a large corporation that owned many deaalerships. I recommend for John and others to deal with family owned dealers. They have a reputation to uphold in the community. They thrive on repeat and referral business. You find these dealers will treat you and its employees like family. You can actually feel the diffrence when you walk into the show room. Warning buying from private parties can be more dangerous than dealers. Private parties are not governed by the same laws as dealers; if you think they are not profit motivated, well good luck! Take your time when buying, you will have a good experience.

[johnny volkman]

i bet gene from four stars auto ranch will give you the best price possible without trying to pad his pocket a few thousand, and i also think monkeys will fly out my butt. car dealers are just like any other business, try to steal as much money from you as you will let them. you can't run a multi-million dollar dealership by making a dollar over invoice over-billing is the way. chevy sells the car to the dealer for $15999, dealer sells it for $16000, a dollar over invoice, what a deal! they'll be more than happy to show you the invoice. chevy sends check back to dealer for $8000. hey gene, tell everyone if i'm telling a story out of school. gene?

[MikeZot]

Unless the situation's changed a lot in recent years... dealers don't own the cars on the lot -- banks do (banks finance the dealer's "buying" them from manufacturer). And that's one point in favor of buying a leftover -- the vehicle's been sitting on the lot a couple of months (or more) and dealer's paying the bank hefty interest each month it goes unsold. Of course, same can be said of current-model vehicles -- the longer they're on the lot, the more it costs the dealer. So, if you can be patient (and not too fussy about color, options, etc.), scope out a lot, get your quote, then leave if not happy with price; return a month later... still there? Get another quote, and leave if not happy... Repeat as needed.

[Mary Jordaine]

I have purchased my last two new cars without dealing face-to-face with a sales person. Here's what I do: 1) Decide what I want (seating, power, color, etc) and find the car that fits the bill. Each car company's Internet site will give you that info - you can even "build" the car and price it out. 2) Test drive the cars you're interested in. I tell the sales person up front that I'm not there to buy...just to test drive. 3) Determine how much I want to pay. I evaluate what the car companies say they are charging their dealerships, what the car will be worth when I drive it off the lot, etc. Then I add on how much money I want the dealership to make on the transaction (I want them to make some profit - after all, they will be servicing my car later). 4) On the day I'm ready to buy, I call up two or three dealerships, tell them exactly what I want, and ask them to call me back with their best price. If they say it isn't their policy to do that, I let them know this is a one-time bidding situation and they will not be able to participate (they will call you back - believe me). I do not accept whatever is on their lot - all dealerships can find exactly what you are looking for. 5) I finalize negotiations by phone and fax.

[Amanda]

This is in response to "Alaskan". I think your response was ridiculous and I completely disagree. I bought a '99 Jeep Grand Cherokee Laredo V8 from a couple in town and they had a very very solid maintenance record that they showed me... too bad it was all fake!! After purchasing it, I had to make $2100 in repairs within 2 weeks of owning the thing!!! I never will trust private party again! I ended up going to a dealership and got an '08 Hyundai Sonata - with paying my jeep off, the total price of everything included was $13.885.76 and THATS the way to go

[nikki]

I work in auto sales and have for a while now. To be honest there really isnt a best time to buy a car. The best time is when you are actually ready. Be honest and up front with your sales associate from the beginning. All these "tips" that are out there now actually hurt you in the end. We work really hard to try to help you achieve your personal goals and when people dont want to help us help them it makes for a difficult transaction. Also private buying isnt the best way to go. As a private seller all you have to do is make the car clean and shiny...no smog or saftey requirements. Just because someone has maintenance records doesn't make them true. Another thing, shopping from one end of the state to the other only makes your experience more stressful...work with one dealership and let them do their best for you. In the end a few dollars isnt worth weeks and weeks of hunting for the "best" price. There's always going to be someone you encounter that claims they got a better deal. I just wanted to voice my opinion to everyone, speaking from behind the sales desk!! Good luck to everyone looking!!

[Andy]

I have worked in a used car lot when I was between jobs and we had to turn a minimum profit from each car, the rest was split between the sales staff. 50% to the seller, 25% to sales manager, 25% to split between two other salesmen. I have been buying only new cars and at dealers for 43 years now and have seen most all of the "tricks" mentioned above. One salesman even had the nerve to state it was a Federal Law (Fair Trade Act) that cars had to be sold at the sticker price. I just laughed in his face and went to the sales manager and asked for another salesman. That is my usual response when a salesman makes a really bad "miss-statement". Ocassionally a sales manager has refused to give me another salesman and I just said goodbye and walked out.

The best "trick" a buyer can do is go a few times to a dealership and look around the showroom but not the outside field, so they recognize you as a returning prospect. Then, near the end of a quarter, ask to use the restroom, or get some coffee and quickly look around the back office for the sales board showing who has made the most/least sales, on the last day of the month/quarter pick the guy who has not made many sales yet, he will do anything to close and will more quickly get down to the dealer's minimum price for you.

[Andy]

Obviously a lot of auto sales people from dealers are reading and posting here. Remember their moto is: "The best time to buy a car is now!" and they really love a buyer that has a checkbook in his shirt pocket, picks out the car he wants and writes a check with out haggeling. After the poor chump leaves his salesman will be getting High 5'S from his manager and the other salesmen. Sometimes they even bust out in a big cheer.

[Rob D]

Johnny Volkman cracks me up. I need to see that dealer that gets a rebate check from the factory for 1/2 the SALE price of the car.....that is just funny, and really shows how much the public thinks a dealership makes off of a car sale. Just to state a fact, on that $16,000 car that they sell for a $1 over invoice, the holdback check from the factory is more near a $1,000 for that price of a car. The holdback money from the manufacturers pays that heat bill, that phone bill, computer costs etc etc, just like those bills in our households.

The long and short of it, is there are good car dealerships, and bad ones. A smart consumer, again, a smart consumer can figure that out in a hurry. Bad dealerships prey on uneducated customers, good dealerships make a fair selling process for smart consumers, and uneducated ones. I guess the question you have to ask yourself is, which catagory do you fit into? I know from a couple posts above who should fit into a catatgory LOL

[johnny volkman]

to Rob D., i bought a new f250 4x4 diesel about a month ago, window sticker $46180, after tax,tag,title, it would have been over $50K. i drove it off the lot $29647.51. thats over $20K that stayed in my pocket, not the dealers. they added a bedliner and still made money or they wouldn't have sold it. johnny

[uneducated buyer]

so, now, who can point me to a good dealership in the Bay Area? im looking for a compact car. preferrably a civic.

[Shawn B]

I have recently begun employment with a car dealership in a sales capacity, and to be honest, I used to think the same way alot of people who've posted on here thought as well, sales people are here to rip us off, they prey on our ignorance, they're making beaucuop bucks on our lack of knowledge. I used to have a minimum 10% discount I would take off before even considering a vehicle. Now I look at things differently.

I will agree that there are dealerships out there that are out for their own, charging ridiculous markups for hard to find vehicles, price gouging, and playing dirty tricks to make a buck. But not all dealerships are like that, and it's not just new guy naivete. Where is it stated that car dealerships, like ANY OTHER BUSINESS, are not allowed to make a profit??? We have bills, salaries, 401k to pay just like any other business. Go into a restaurant next time and try to negotiate a better price on your meal. That 32 oz soda you just paid $1.99 for, cost the restaurant $0.13, cup and straw included! Who's complaining about that? But when we try and keep some profit from a vehicle sale, we're gangsters, nefarious evil doers robbing you of your money. The restaurant industry, jewelry industry, all have insanely larger profit margins than the auto industry. On our base level model, priced at $16,000, we have $400 worth of profit/wiggle room. If that vehicle gets damaged at delivery or by an employee, WE have to pay the cost to fix that.
Oh, and that lovely trade in that you thought you hid the poor transmission, leaky oil, or shoddy brakes so well, WE have to pay to fix that before we can put it on the lot to sell too. So we're not all devoid of blame here...

[Amber]

If you guys want the 'best deal' shop two or three different dealerships online to find the car/cars you are interested in (by the way, the cars are always discounted online, but usually have around $1000 bucks extra you can get them to take off) then contact the internet sales team at each of the dealerships. Play them against each other without going in to see the car. Let them know what you are doing and TELL them what the other dealerships are doing. The internet department at a dealership has different rules, and a different commission structure. They usually don't get paid for how much profit they make, they get paid by how many cars they move. Also, the sales managers get their bonus based on how many cars they sell, so they are willing to work more with the internet guys. I used to work at two different dealerships and they are all pretty much the same. If you don't have time to shop around, go to a dealership, pick a car, and ask to use the internet real quick, and check their website to know what you should be paying for the car. **Always negotiate the price on the new car before telling them you have a trade! Thats the second way they get you. They will take your trade and sell it for 4-8K more than they paid you!

[WS]

Personally, I think the best time to buy a car is 2 hrs before closing time on 12/24 (check ahead - they usually close early on Christmas Eve). Car showrooms are EMPTY (most people are in malls buying those last minute gifts). By getting there 2 hrs early, it's enough time to force lots of staff to stay... which puts lots of pressure on the salesperson to CLOSE THAT DEAL NOW. Just be insistent that you want to buy that car NOW for a gift.
Oh... at some opportune time, look at the salesperson and ask them "why are you keeping me from buying this car?"... and watch their jaw hit the floor!

[kS]

To Shawn B: The reason why potential car buyers are always looking for the best deal, haggle, and think car salesmen are always out to get them is because car dealership and society in general train people to think that way. You being in he auto sales industry should know this more than anyone. Any person in any industry that tries to "sell" you a product, you will see right through them base on your own experience alone.

[Rob]

Timing, when leasing a car is more important than anything. I've seen lease payments vary as much as $120 from one month to the next. It all depends on the interest rates, residual value and what incentives the dealer might use to get you that sweet deal.

Thanks for the info.

[Confused Buyer]

na i been lookin fa a truck fa the past month seen a few i wanted but the dealership says buying new is better than buying used. i kno how much the used trucks cost compared to the new trucks i aint trying to get messed over again like i did with my first car....

No offense but Johnny u sound like u kno how to make a real good deeall. u have any tips on how to talk the price down... i kno one is go in there with ur mind made up bout price and vehicle for dealers try to put u into something u dont really want but the price sound good.....

do u really have to take a test drive before u can find out how much a vehical cost or what type of payment u will b taking if u know all the info the dealer needs already?