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Car Buying TipsEverything you need to know about buying a new car

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Right Time to Buy

Is it that time of the month?

Hmmm...When is the right time to buy a new car? Unless you needed a car yesterday, it is wise to wait until there is pressure on the dealer to unload his inventory. Whether the dealer has to fill a quota or it's time for him to dump older models—there's always a right time to buy.

  1. Be Your Own Santa
    People are buying Christmas gifts, not new cars, at the end of the year, so many dealers slash prices. Some dealers reduce their inventory during the slow holiday period. Find a dealership that has a large inventory in need of unloading some cars.

  2. Out with the Old
    July through October is when dealers push the "old" models to make room for the next model year that's coming in. If you're willing to buy the current year's model rather than next year's, you can save some dough.

  3. End of the Month Equals the Beginning of Savings
    After the 25th of the month, you'll generally be able to negotiate better deals because dealers have quotas to meet. There are many factory-to-dealer incentives that are tied to how many cars a dealer sells during the month so if they need to sell more cars to meet these goals, it can mean big savings for you.

  4. Fewer Customers Equals More Attention
    You can do most of your research and legwork online, but buying a car will require at least one visit to the dealership. We recommend going if you can on a weekday. Because the weekends are jammed with customers, it's like shooting fish in a barrel for the dealer. However, when the beginning of the week hits, the fish tend to be a bit scarce and the salespeople will be more eager to work with you.

  5. The End of an Era
    Manufacturers typically give their models a complete redesign every four or five years, with minor "refreshes" between redesigns. When a car receives a major redesign, dealers can't wait to move the old designs off of their lots because they know that new buyers will be attracted to the new designs. So, keep your eyes and ears open for news of a redesign - you could save a lot of money if you're willing to drive the older design.

BOTTOM LINE: Like all other aspects of the new car buying experience, timing is everything. Waiting for the right time to buy could save you just as much as haggling over the invoice price. Let timing work for you and wait for the dealer to feel the pressure of unloading his inventory.