The day after American Thanksgiving is one of the busiest retail shopping days of the year in Canada, and THE busiest in the United States. More than $717 BILLION USD was spent in 2018 on Black Friday! It’s the unofficial kickoff to the holiday season and shoppers are out looking for the best deals. Car dealerships are getting in on the action too...
If you’ve been looking to buy a car, you’ve probably opened your mailbox to a cascade of recent flyers for Black Friday car deals.
But is buying a car on Black Friday better than any other time of the year?
And where are the best deals to be found?
No question, dealers are coming out with the full court press towards the end of November.
If you’re looking to save some cash on a brand new car, it’s a good time to buy. It’s when you’ll see promotions on new vehicles like 0% financing from GM Financial or “90 days no payments”.
FCA brands like Chrysler, Jeep, Dodge, and Ram roll out Employee Pricing Plus, dropping sticker prices by up to $10k. Ford will have up to 20% off the retail price on select models.
Some of these Black Friday car deals are impressive. You can slash the price you’re paying for a new car by $10,000 or more, and saving that kind of cash is never a bad thing. But what you might not know is that: great deals are available throughout the year, not just Black Friday.
It’s also worth pointing out that some Black Friday offers are reserved for customers with good credit, which means a lot of customers are disappointed when they learn this at the dealership.
But Black Friday isn’t the only time to get a good deal, and good deals aren't only reserved for customers with stellar credit.
Let’s discuss how you can make the most of Black Friday and drive away in a car you love!
You’re in buying mode already. Browsing through all the store flyers piled high on your counter, your eyes are going to pick up on lower prices and better interest rates for new cars too. If you aren’t picky about the make, model, or trim level that you’ll be driving next, you just might stumble upon the deal of the year.
But a pickup truck owner isn’t often willing to take the steal of a deal on a subcompact hatchback. And a hybrid sedan owner usually won’t go for a full-size SUV that’s thousands of dollars below MSRP. You’re looking for a particular style of vehicle, aren’t you?
Black Friday is often NOT the best time to buy the specific car you’ve been eyeballing for months. While Black Friday MAY have the deal you’ve been looking for, there are other great times to go car shopping:
But is there a better way to save money when buying a vehicle on Black Friday? What about the used car market?
The downside about some of promotions on new cars (such as APR financing offers) is that they require a stellar credit rating. This caveat prevents a lot of car buyers from taking advantage of a good deal. But if your credit rating isn’t so stellar, don’t worry, there are still good deals out there!
Flip the dealership flyer over. See the used cars on the page? That is where some of the best deals are found this Black Friday and all year round.
Not convinced that a used car is the way to go? There are good reasons to consider pre-owned vehicles on Black Friday:
Black Friday is a great opportunity to get the best pricing of the year on a pre-owned vehicle! In fact, you’ll be able to use Black Friday's new car promotions to your advantage.
Dealers will be selling new cars primarily during these promotions. But used car inventory doesn’t get as much attention during this time, and dealerships need to move that iron too. Every day it’s on the lot costs the dealership money.
Plus, there’s a very good chance the used car lot will be inundated with new inventory – trade-ins from the new car sales surrounding Black Friday. A big part of a dealership’s sales structure is maintaining the delicate balance between new and used cars on the lot. If there’s an influx of trade-ins, it can put pressure to liquidate cars, making your life at the negotiating table easier!
As part of your Black Friday preparation, it pays to get pre-approved for finance BEFORE you visit the dealership.
Canada Drives is partnered with hundreds of used car dealerships nationwide to help buyers find the best deal on the vehicle they want.
Here’s how it works:
Whether you’re searching for the perfect used car match or you’ve settled on a new vehicle, Canada Drives can help you get the best price with the least hassle this Black Friday. Get started by clicking ‘Get Approved Today’, or call 1-888-865-6402.
Your online application takes only 3 minutes to complete and we only ask for information we actually need.
Or feel free to call us at 1-888-865-6402