When to Find Car Dealership Discounts
Car shopping has become something of a science. If you time your purchase right, you could save thousands off the sticker price, while buying during certain times of the month or on the wrong day can cost you. Here's a look at when you might find the best deals on a new set of wheels.
Deals by the Day
Contrary to what the ad campaigns would suggest, weekends generally aren't the best time for car-buying.Three-day or holiday weekends like President's Day may offer exceptions, but don't get stuck thinking this is the only time to find a great deal.
Instead, avoid the weekend rush and consider buying during the week. Statistically, shopping on a Monday tends to save buyers an average of 8 percent off the retail price. Weekdays also make it easier to get prequalified by the bank, which can increase your negotiating power.
Money-Saving by Month
Most dealerships and manufacturers incentivize with monthly and quarterly sales goals. The more eager they are to hit their numbers, the more leverage you have to negotiate. Catch them at month's end as the sales cycle comes to a close and you could score yourself a nice deal.
Discounts for certain vehicles may also deepen during different months of the year. For example, May is a popular month for SUV sales, and you're more likely to find markdowns on trucks and full-sized pickups in the fall.
At the end of the year, dealerships are probably working to clear out current models to make space for the next year's lot. You could find Black Friday deals in November as well as holiday discounts throughout December.
Dealership discounts fluctuate quickly, but that could work to your advantage. Either way, with a little flexibility you may be able to land the car you want at a reasonable price.