If you want to save on a used car or a new car, a little careful planning can go a long way. Where you buy your car matters as does when you buy your car. There are certain times of the year when cars are less expensive than other times of the year. Choosing the right time of year to buy a used car or a new car can save you thousands of dollars.
It's a Huge Market
About 40 million cars are sold each year, making the car market one of the biggest in the world. Between dealerships and private-party sales, there is a lot of money and vehicles being exchanged. The idea of supply and demand is always driving both new car sales and used car sales.
Plotting your purchase to align with the historical times when cars were less expensive is an easy way to ensure you are getting the best price. If you are not in a hurry for a new or new used car, waiting for the prime time of the year for savings can really pay off.
What The Experts Have to Say
According to the experts, the last quarter of the year is the best time of the year to buy a new car or a used car. The reasoning is simple. Dealerships need to make room for new inventory, they also need to close out their books for the year.
October, November, and December are hands down the best months to buy a vehicle. If you can wait until the end of the year you should.
Worst Month to Buy a Car
If there's a best time of year to buy a car, then we also must have the worst time of the year to buy a car. Car prices are cyclic. They will dip and rise around the same time each year. Starting in February every year, car prices start to rise. They typically reach the peak rise in cost by August, making August the worst month to buy a car. So when you're in the market to buy a car, you're better off waiting a few more months until prices drop and you can get a better deal on the vehicle you want.
Want to Save Any Time of the Year?
The best way to ensure you are getting a great deal on a used car or a new car is to shop at the right dealership. If you're in the Chantilly area, Fair Oaks Jeep Dodge can help you get the right car at the right price.