When Is the Best Time to Buy A Car?

Purchasing a car is an important financial decision that requires careful consideration. With prices fluctuating throughout the year, knowing when to buy can make a substantial difference in how much you pay. Whether you're after a new or used car, the timing of your purchase can help you save money and secure a better deal.

Here’s a breakdown of when the best time to buy a car is, based on key industry trends and insights.

1. The End of the Month

Car dealerships often work with monthly sales targets, and salespeople are incentivised to meet these quotas. This creates an opportunity for buyers looking to purchase a car at the end of the month. Dealerships are motivated to meet their goals, meaning they're often more willing to offer discounts, better trade-in values, or additional perks to close deals before the month ends.

Summary:

Dealers are eager to meet their sales quotas and may offer better discounts to seal the deal.

Additional incentives or perks may be available to make the sale more attractive.

2. The Start of the Month

The start of the month can also be a good time to buy a car, as dealerships often roll out new promotions, rebates, or special offers at the beginning of each month. Manufacturers may launch new financing options, cashback deals, or seasonal incentives to attract customers. By shopping at the start of the month, you may be able to access better deals before they become less attractive as the month progresses.

Summary:

New financing promotions and rebates are often available at the start of the month.
Dealers may offer fresh incentives to attract buyers at the beginning of a new sales cycle.

3. End of the Year

The end of the calendar year, especially December, is another great time to buy a car. Dealerships are keen to shift older models off the lot to make room for the next year's stock. To do so, they often offer discounts or special promotions on last year's models, even if they are brand new.

Summary:

Dealerships want to clear out the old stock before the new model year arrives.
You can negotiate a better price on vehicles that are still new but classified as "last year's model."
Special end-of-year promotions, like rebates or low financing rates, often help buyers save.

4. New Model Releases

Most car manufacturers release their new models often around September. As a result, dealerships begin offering discounts on the outgoing models to make room for the new arrivals. This can be an ideal time to get a deal on a car that's still new but is no longer considered the latest model.

Summary:

New models spark interest, which leads to discounts on older, outgoing stock.
Cars that are still brand new but from the previous year are priced lower than the new models.
You may be able to negotiate a larger discount as dealerships are eager to move older inventory.

5. Holiday Sales and Special Promotions

Key holidays such as Black Friday, Easter, and Christmas often bring significant sales events. During these times, car dealerships run promotions, discounts, and special financing deals to attract more customers. It's a good opportunity to take advantage of deals tied to holiday events or clearance sales.

Summary:

Holiday sales often feature special offers, including lower prices, cash rebates, or zero-percent financing deals.
Dealers may be willing to negotiate more during these times to hit targets before the end of a quarter or year.

6. When a Car Model Is Being Discontinued

If you’ve been eyeing a particular car model that is about to be discontinued, now might be the best time to buy it. When manufacturers announce that a model will no longer be produced, dealerships often discount the remaining stock. While there may be fewer options available, it could be the perfect time to secure a great deal on a model you’ve had your eye on.

Summary:

Dealerships are eager to clear out remaining stock of a discontinued model.
You may be able to negotiate a larger discount as dealers want to move these cars quickly.

Final Thoughts: Research

While there’s no universal answer to the best time to buy a car, preparation is key to maximising your savings. Research market values, explore ongoing promotions, understand financing options, and compare deals across dealerships. Pay attention to incentives, seasonal trends, and manufacturer promotions to time your purchase wisely. Whether it’s at the end of the month, during a holiday sale, or when new models launch, combining smart timing with thorough preparation ensures you’re ready to secure the best deal.