It’s the most wonderful time of the year… to buy a car. December means we’re in the full throes of the holiday season, we’re reaching the end of the calendar year and we’re now in the best month to snag some fantastic year-end deals on buying and financing a new car.
Why December? This is the best month of the year to buy cars for two reasons: 1) car manufacturers are looking to clear out their older models to make room for newer models, and 2) car dealers need to meet their sales quotas for both the end of the month and the end of the year. That puts a lot of pressure on dealerships to sell cars in a hurry this month and gives a big advantage to car buyers.
If you’ve been waiting awhile for year-end deals on a new car, it’ll pay off to hold on a little bit longer. While dealership inventories may fall low the closer we get to New Year's Eve, you’ll find the best deals at the very end of the month. Dealers and salespeople will be making a last-minute push to meet their year-end sales objectives, which means more opportunity to negotiate both a buying price and your financing terms on December 30 or 31.
But if you don’t want to wait until the last minute or you’re worried that the car of your dreams will be gone, the rest of December looks just as promising for great deals on buying or financing a new car. According to TrueCar.com, 7 of the 10 best days of the year to buy a car fall in the month of December, so anytime this month is a great time to buy.
Regardless of when you decide to buy a car, be sure to do your research and compare prices across dealerships. While it may seem like you’re already getting a fabulous deal, it’ll be worth the extra time to make sure you’re saving the most money possible. You can even use offers and information from your competition to negotiate a lower price from the dealer of your choice!