The Single Best Day to Buy a Car Is …

Anna Williams
Posted

best day buy new carWhat are your New Year’s plans?

Maybe you’re planning for a quiet evening at home with the family, or you’re going to a glitzy party for a night of champagne and dancing. Either way, spending the day on a car lot probably isn’t part of the plan.

But if you’re in the market for a shiny new set of wheels, experts say car shopping on December 31st could help you snag a great deal.

“The last day of the year is going to be the day that a consumer is most likely to get the best possible value when buying a new car,” Alec Gutierrez, a senior analyst at Kelley Blue Book, told MarketWatch.

Here’s why: With both automakers and dealers eager to hit end-of-year sales targets, they’re more likely to sweeten the offer on a new car. One caveat: The markdowns will most likely only apply to 2013 models. But the types of deals being offered are generous, according to MarketWatch. They include 0% financing and big cash-back deals, like a $7,000 rebate on a Chevrolet Volt and up to $3,500 on some 2013 Ford and Lincoln models.

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If the idea of spending New Year’s Eve haggling with a car salesman doesn’t sound appealing, know that even the first few days of 2014 will be prime time to score a deal. ‘“The last sales day of 2013 for most dealers will be Jan. 2, 2014,” Jessica Caldwell, senior analyst at Edmunds.com, told MarketWatch. “Any time after Christmas—assuming a dealer hasn’t already met his/her sales target—would be a favorable time to buy a new car.”

  • ksgirl73

    I think it depends on if you are buying new or used. If you are buying used then it probably is a good time. I bought one on December 23rd one year and got a pretty good deal. If you are buying new you are better off buying on August 31 or September 30. Any later than that and you won’t have your choice of options and most cars will be picked over.