When is the Best Time to Buy a New Car?

August 6, 2019

If you’re looking to snag a great deal on a new or new-to-you car, there are a few dates you should mark in your calendar. And once you know the best times to visit a dealership, you can be confident about securing the best price on a car you love.

You need a reliable car and you need it yesterday. Well, the good news is, you don’t need to wait until the end of the year to get a great deal on a shiny new vehicle. There are ideal times of the week, month, and year to visit car dealerships and save hundreds or even thousands of dollars on a new car. 

You’ll notice that some of these periods overlap too, making certain dates extra advantageous for getting a good deal. 

1. Towards the end of the year

Historically, one of the best times to make a car purchase is during end-of-year sales. While dealers are eager to meet their yearly sales quotas, you’ll enjoy special deals and offers at this time of year. We recommend visiting the dealership during the last two weeks of December, but these sales could begin as early as the fall and continue throughout the winter. It’s also worth remembering that these early sales will early sales will coincide with Black Friday for extra special savings! 

2. Towards the end of every month

If you want to snag a deal, why not wander into a dealership at the end of the month or end of the quarter. Many dealers have monthly sales goals to hit, and some of them will still be trying to hit their quarterly or monthly quota.

In these instances, you might have some wiggle room to negotiate a lower price. And even if sales quotas have been met, dealers still have the potential of earning a special bonus when they exceed their quotas and may be more open to granting a reduction to close one more sale. 

3. When new models are released

Late August and throughout September is when newer models usually get added to a dealership’s inventory. At this time, dealers are likely to begin reducing prices from the previous season’s inventory to make room for their brand new units. This is a great time to find a deal on one of last season’s vehicles. These cars might be missing a few of the bells and whistles of the newest models, but you’ll be able to negotiate a great deal on a car that’s still brand new, but just not the most recent model year available.

Some manufacturers release new models as early as the spring, so if you know what brand you like, find out when the manufacturer releases new models and then see about snagging a discount on one of last season’s inventory.

4. During slow days at the dealership

Try to only visit dealerships during off-peak times. Go during weekdays (especially Monday, Tuesday, and Wednesday) instead of the weekend. Stormy days are also a good time to brave the elements to look at cars since nobody else is there. Slower days like these may make negotiations a bit easier for you since the dealer will have fewer prospects that day. 

Pro Tip: New Year's Eve is one of the most opportune times to buy a car. Think about it. It’s the end of a quarter, month, and year! You’ll be shopping when nobody else is there because they’re all getting ready to party. Meanwhile, you’ll be driving off the lot and cruising home in a car you love! 

5. During the off-season

While late fall and December can also be a good timeframe for earning discounts on a variety of new models, it can also be a good time of year to shop for something like a convertible. It makes sense that demand is lower for these types of cars during the winter months. So if you’re determined to cruise in a convertible someday, wait until winter to see what’s on offer! On the other hand, 4-wheel-drive SUV sales tend to be stronger when winter is imminent, so you might consider purchasing your SUV during the warmer months to enjoy summer savings!

Now that you know all the best times to go car-shopping, you might want to play the waiting game. But whether you plan to wait a couple of days or until the end of the month, why not get pre-approved for finance in the meantime?

With auto loan finance already approved before you visit the dealership, your car-shopping experience will be a lot more enjoyable. There’s no more waiting, no more anxiety, and no more disappointment. 

Once you fill out our fast, free, and secure online application, we'll match you with a certified dealership that has the right car for your budget. 

Apply with Canada Drives to learn more and see what you're eligible for.

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