When should you buy a car?

Shopping for a car is stressful and few of us enjoy the process. It’s even worse if we feel like we aren’t getting a good deal.

Luckily, there are certain times of the year when buying a car is beneficial for the shopper rather than the seller. Here are five times when buying a car is a good idea:

1. New Year’s Eve

Many dealership sales teams have monthly, quarterly and annual quotas they must meet. Therefore, the last day of the year could be a great opportunity for buyers to negotiate a deal that saves money. If December 31 isn’t available, other days toward the end of the year can also be beneficial.

2. New Year’s Day

Didn’t get to the dealership by December 31? New Year’s Day can be just as good for getting a deal, but for different reasons. There’s low traffic so a salesperson has more time to make a deal. It’s the first day of the year with new sales quotas, which could be a road bump, but they have the time to focus on negotiating with you.

3. Mondays and Wednesdays

For the same reason New Year’s Day is good for negotiations, Mondays and Wednesdays can also be good days to buy a car. There is generally less traffic at the beginning and very middle of the week, so you get more attention from your salesperson.

4. May

If you don’t make it to a dealership by New Year’s Day or are unavailable on Mondays and Wednesdays, consider waiting until late May to buy a car. Memorial Day weekend usually comes with sales and discounts, as well as other buying incentives.

5. October

October can be great for buying a car because dealerships are transitioning to next year’s models. If you’re not looking for the latest vehicle to hit the lot, you can get a good deal on last year’s inventory.

Buyer beware

These five times of the year can be great for taking advantage of discounts and bargaining, but no matter what time of the year you buy a car, it’s important to make sure the deal fully benefits you. Fraud can occur at any level of the sales process, whether it has to do with the car’s condition or the financing.

Getting a good price is important, but not at the cost of your safety and long-term financial health. These slow times of the year can be great for saving money, but they also give you enough time with the dealership to potentially determine if they are doing good business with you. And if your discover fraud after the sale, you can still protect yourself. 

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