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Best Month to Buy a Car

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  • Best Month to Buy a Car

    I hopefully won't have to start thinking about this for another 15-18 months but...

    I was wondering - does anyone have a feel for what is the best month of the year to buy a used vehicle? Something with 40-60K miles, and in the $10-15K price range, 4 or 5 years old.

    New models come out now in what? August and September? So maybe October/November? Or do new models have little or no effect on the price of a 4 or 5 year old car?

    We live in Michigan, so maybe better deals in the dead of winter? Jan. and Feb.?

    Or does the end of the year/taxes have an effect, so the last two weeks or so of December?

    Or summertime, because people are busier with vacations, and trips to the beach?

    Curious if anyone has any thoughts.

  • #2
    I've heard that if you can get a cold or bad weather day at the end of the month, it's a good time to negotiate. The salespeople are trying to get in the last sales to reach their bonuses for the month and with the bad weather, they know they won't have many other opportunities to sell, so they are more likely to deal.

    I think much more importantly is to know what the true value of the car is you're interested in. If you know that, you can sit back and wait a few months until you see a del you can't pass up.

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    • #3
      The best deals are generally month-end, year-end, on aging inventory, or in the least credit-worthy months (January-March following the major holidays and before the spike in tax return filings). Weekends typically are a dealership's busiest days, so you might have better luck trying to work a deal mid-week when the sales staff are throwing a football in the showroom, or trying to strike deals on Craigslist.
      History will judge the complicit.

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      • #4
        I remember reading the best day of the week to buy a car was Friday. The week before Christmas is usually good for the buyer, consumer's attention is diverted elsewhere but salesmen need to make their quota. If you're very flexible, about the type of vehicle, you could ask your bank's loan officer if they have repos coming in soon...before it goes to auction. I'd guess the highest number of used car sales occurs in spring summer as consumers prepare for highway holiday travel. Everyone fears an auto breakdown far from home.

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        • #5
          I am guessing winter is probably best for your situation, Bob. I've heard that about colder climates.

          We bought our last two vehicles around March/April and found exceptional deals. In fact, when we replaced my spouse's car, it just happened to be early spring, we were looking for something in your price range and expecting an older car, but ended up with a practically brand new car. It is also the time of year that more than one of my friends picked up "last year's model, brand new, priced like a used car". In all cases, dealership was trying to clear out particular models from the lot. When we replaced my car we were way more flexible and just when we saw a great deal in the newspaper - ended up being the same time of year (another 1-year-old car with low miles, priced like a much older car).

          I don't know what the logic would be about March being a good time, but ua_guy's point makes sense. Though I swear we bought my car in April, and most people should have their tax refund by then. But maybe they were buying up the new new cars and the used cars were piling up a bit? I have no idea.

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          • #6
            I'd think that the best time to buy is right around the time that the new models come out which is usually around late summer/early fall. You can get a left over model fairly cheap as the dealers are trying to clear out their inventory to make room for the new models.
            Brian

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            • #7
              I really don't know, but we just got a car this past weekend. We researched it to death and did an internet fleet pricing quote that we asked the dealer to meet. There was also a $2,000 rebate.

              We ended up paying 18.5% less than the MSRP, which is still cheaper than many of the 2 year old cars of the same make/model.

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              • #8
                The best time of month to buy a car is when you can afford it.

                Doesnt matter if on this day you can save $1k and on another you can save $2k...if you cant make the payments and or pay for it outright you shouldnt be buying it to begin with.

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