The best time to buy a new car isn’t just one day or one weekend. There are many strategies you can use to find the best deal. Timing is important, and it’s not just watching for sales. It’s also knowing what’s happening with redesigns and discontinued models. So we’ve put together a list of the best times to buy a car.

Day of the Week or Month

Many people recommend Mondays as the best day to buy a car. Often it is down time at the dealerships, and they are eager for your business.

Another strategy is the last day of the month. This is often when dealers are trying to make up for lost time. They may be struggling to hit quotas, and that can benefit you.

Shoppers can learn how to spot a deal by staying up to date on available inventory. Fortunately, it’s fun to window shop from your smartphone or computer. This will position you to find deals that others miss.

Three-Day Weekends and Other Big Sales

There are always big sales over three-day weekends. Car dealers know that people will have time off. They want to get you business, and they put their best prices out there.

The day after Thanksgiving, Black Friday is a good day to buy a car. It may also be insanely busy, however, and it may be hard to get the exact model you want.

New Year’s Eve is considered a good day to buy a car. Year-end sales events are often the result of dealers trying to trim their inventory before the end of the quarter. Even if there isn’t a current holiday, you can always check for manufacturer specials.

Best Months

Many people believe that the month of May is the best month to buy a car. This is the pre-summer rush, and the lower prices may have to do with the fact that dealers are trying to get a slice of that pie. Some turnover may be due to model year changes as you will see in the next section.

Likewise, the months of October through December are considered good months. In those months, there are numerous three-day weekends and big holiday sales. It is often when many dealers were trying to move outgoing models to get ready for the new model year.

Model Year Considerations

Much has changed in recent years, but it’s still true that one model year ends as another begins. This makes the end of a model year a very good time to get a good deal on a new car. You can favor the outgoing model, help the dealer move the product, and get a price break in the bargain.

This is especially true if the outgoing model is a different generation than the incoming model. That usually indicates that the new model is a complete redesign. The price may be going up while the current model is still at the lower price. A dealer may let you have another discount if you time it right.

This can be a bit complicated. Car brands no longer follow the same schedule. New models don’t all arrive at once anymore. You’ll need to watch automotive news to know which models are completely redesigned and when a model year is changing.

If you go to the dealer, knowing what models are in and which ones are out, you may have the upper hand.

Discontinued Models

When a model is discontinued, the dealer will have more incentive to sell off that part of the inventory. Now this may seem like a bad idea. Why was the car discontinued? However, if you check the automotive journals, you’ll discover that some of the best-rated models get discontinued.

For example, the Honda Ridgeline was discontinued in 2014, although it was considered a good truck. The manufacturer brought it back in 2017 as a totally new model. The new model is simply more competitive in today’s market than the one that was discontinued.

Sometimes the discontinuation has to do with the way the lineup is changing. The Hyundai lineup once included a 3-row Santa Fe. That model was discontinued in favor of the current 2-row Santa Fe and the 3-row Hyundai Palisades.

In another example the outgoing 2022 Kia Sportage is a popular SUV. However, the incoming 2023 model is bigger and may attract a different group of buyers.

Before You Need One

According to US News and World Report, the best time to buy a car is before you need one. This will allow you to shop sales, do your homework on what’s a good price and what’s not, and utilize incentives, rebates or financing deals if they become available.

Now that you know more, have fun shopping! And don’t forget that online shopping can’t show you everything. You need Avondale Automall. Go find your favorite dealer and see some competitors back to back on the same day.

When you want to buy a new car, there’s a lot of dreaming that goes on. You need to do that dreaming before you set foot in the dealership.

When you arrive for a test drive, you want to know how much you can safely spend on a down payment and on regular payments. It’s also important to know whether you expect to trade a car in a few years or whether you want to drive it for a decade.

Lastly, it helps to be realistic about today’s gas prices. Perhaps you should be shopping for a truly efficient SUV with fuel economy nearer to 35 than to just 25 mpg.

At the dealership, you can be ready with questions that will fill in the gaps in your knowledge. With your handy smartphone, you can research some questions yourself in real time.

1. What Interest Rate Incentives are Available to You?

Your dealer may know about financing incentives or dealer-specific incentives that could work in your favor. Remember your loan is more costly than your purchase. Anything you can do to lower the interest rate is essential to your bottom line.

2. Are Rebates Available?

If you are eligible for new car financing, you should be eligible for available rebates. This may sound like a good deal, and it often is one. However, be aware that you will pay the taxes on the full price. Furthermore, you should find out if your loan will allow you to immediately reduce the principal when you get the rebate.

3. What’s the Actual Price of the Vehicle?

You should find out the invoice price, which is lower than the MSRP. That will help you negotiate for a lower base price even if you can’t get fees waived. A lower purchase price means a lower tax burden and a lower final loan amount. This is one reason that

4. What’s the Final Cost of the Lease or Loan?

You may want a low monthly payment, and they will find you one. However, if you are paying too little each month, the loan will drag on too long. This pushes the actual cost of the vehicle way up.

On the other hand, a lower monthly payment may be possible with a lease. Yet there is a catch. In the end, you don’t own the car. The balloon payment to buy the leased car would make a good down payment on your next ride.

5. What Warranty Coverage is Free?

With new vehicles, the average is three years of Limited and five years of Powertrain coverage. To compare coverage, you will need to know the mileage caps and any extras, such as free maintenance.

By the way, purchasing an extended warranty pushes up the cost of your loan. You will pay interest on that extra $1,000. This may be a deal breaker. You may want to reconsider your choices.

If the longest warranty is important to you, there are at least two brands that have a 5-year Limited and 10-year Powertrain warranty with a mileage cap.

6. How Many Miles Per Year?

This is just for leases. The number of miles you can drive per year may make leasing a bad idea for your use. The lease may limit you to 48,000 miles over four years. That’s only 12,000 miles per year. If you drive long distances, you may end up paying more at the end of your lease. Plus, when the contract is up, the car goes back, and you have to start over.

7. What Tax Credit Comes with this Hybrid or Electric Vehicle?

There is tax credit for many EV purchases. It can be as much as $7,500, but it may be less. If your dealer tells you that a model is eligible, look up the details and read the fine print carefully.

You may not be in the right tax bracket to use it. Ideally you’d check with an accountant before agreeing to the purchase. You need to find out how the upfront costs will affect your loan.