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Some models it probably won't matter much, but still, when they have leftover previous model year cars after the new ones are already out, that is the time. More so if the new one is a significant redesign. In most standard cycles this would be around August, September, as noted.
I bought mine on Memorial Day though, the actual Monday day-off observed holiday. Dealers in PA are all closed on Sundays. I think they get a lot of tire kickers on Memorial Day, when they are typically open for 5-6 hours. I don't think they sold a lot of cars that day. I made a pretty good deal I feel like, and they still made a little money. But it isn't the same as when the pressure is on to get rid of the cars that will soon be viewed as a year old.
Another factor to consider is the "income tax refund boost" in car sales figures.
Any car salesman can tell you that a great many folks go car shopping right after receiving their federal and/or state income tax refund check. Since this can amount to several thousand $$ in many cases, the April-June time period usually coincides with an increase in car sales figures. When business is brisk, bargains are hard to find.
So...if you want to take advantage of the old supply vs demand equation, you should probably wait until the late summer to buy a car. That way, the temporary bump in car sales figures will have ended, and as a result, dealers will be more "hungry" for customers.
Then, when you include the traditional price cuts on end-of-year models that are still sitting on dealer lots, plus the possible manufacturer rebate incentives for buying those left-over models, you are potentially going to get the best bargains.
Is there any a 'best' time to shop for a NEW or USED car (may be 5 years old) at the dealership?
For new car's, I'd keep an eye out for deal/manufacturer's incentives for for the kind of car your interested in. For used cars I'd go anytime the sales of New Cars are strong, they will have more trade-ins and more likely to make a better deal with you.
If there was a single time of year you are most likely to get a good deal, it is in the January-February timeframe. The reason being is that sales are at their lowest point of the year and anything sitting on the lot is costing the dealer money in floorplan interest. Probably the absolute best time is immediately after New Year's as that is the start of the slow season and the vast majority of people are not out car shopping. Anything sitting on the lot then, will probably still be there in March/April when sales start to pickup again, so the dealers want them gone to avoid the carrying costs.
On new cars it is really about following the incentives and waiting for the ones that will work best for you. Sometimes that corresponds with late summer / early fall when the new model years are hitting the floor, but sometimes the best incentives show up in late fall. The thing to remember though is that if you have very specific needs/wants you may not be able to wait for the best deal and will have to be happy with a good deal.
If there was a single time of year you are most likely to get a good deal, it is in the January-February timeframe. The reason being is that sales are at their lowest point of the year and anything sitting on the lot is costing the dealer money in floorplan interest. Probably the absolute best time is immediately after New Year's as that is the start of the slow season and the vast majority of people are not out car shopping. Anything sitting on the lot then, will probably still be there in March/April when sales start to pickup again, so the dealers want them gone to avoid the carrying costs.
On new cars it is really about following the incentives and waiting for the ones that will work best for you. Sometimes that corresponds with late summer / early fall when the new model years are hitting the floor, but sometimes the best incentives show up in late fall. The thing to remember though is that if you have very specific needs/wants you may not be able to wait for the best deal and will have to be happy with a good deal.
Good advice but I'd also want to say that the "January-February" timeframe would probably be more regional than nationwide. In Phoenix, car dealerships are actually VERY busy during the winter because of the number of snowbirds flocking to the area and many of them either trade in vehicles here or purchase new ones for their winter homes. Most snowbirds are from the Midwest and Northeast and don't have to worry about buying a new vehicle here that has been exposed to salt, snow, ice, etc so many make a note of buying vehicles down here to drive back home or keep here as a winter car.
On the upside, if you're here between February and March, you can score great used cars with LOW miles (I'm talking 3-5 year old vehicles with 30K miles). Phoenix is probably the best place to buy a slightly used Cadillac/Lexus/Lincoln for a month or so.
I'd found the best time to buy a NEW car is right in the summertime when the new models are rolling out and dealer's are offering stellar deals on the previous year. I bought a 2010 F-150 right when the new 2011's were showing up on lots. As I don't like to buy a new product (new engines in this case), I opted for a fully-loaded 2010 Platinum which stickered for over $50K and I purchased out-the-door for right around $40K. Great deal in my book.
If there was a single time of year you are most likely to get a good deal, it is in the January-February timeframe. The reason being is that sales are at their lowest point of the year and anything sitting on the lot is costing the dealer money in floorplan interest. Probably the absolute best time is immediately after New Year's as that is the start of the slow season and the vast majority of people are not out car shopping.
I would agree with this, a week before Xmas might be a good time too, how many people are shopping for a car than? Not many I wager.
interesting about the post-christmas time thing. im not desperate to replace my car, but its something i figure ill with in 1-2 years or so. so ill be paying attention this coming jan-feb.
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