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In this post, we will check out the best time to buy a car in 2023.
Buying a car is a significant investment for most people. It involves not only spending a considerable amount of money but also making a long-term commitment.
Therefore, it is important to time your purchase in a way that can help you save money and get the best deal possible. But when is the best time to buy a car in 2023?
The answer depends on several factors, such as market trends, consumer behavior, and seasonal demand.
In this article, we will explore some of the most important considerations when it comes to buying a car and suggest the best time to make a purchase in 2023.
Whether you are looking to buy a brand-new car or a used one, the information presented here can help you make an informed decision and get the most value for your money.
Best Time To Buy A Car 2023
The Best Month To Buy a Car
Experts have believed that the final months of the calendar year, are usually the best time to buy a car (October to December).
The reason for this is just simple, car manufacturers and dealerships try to clear out the stocks before the start of the new year, so they’re more incentivized to discount the outgoing models.
You can get discounts of up to 20% on the entire car or on parts, accessories, and finance.
You’ll also have more choices of models, colors, and options available at lower prices than ever before!
Lower taxes, rarer restrictions, and more incentives make it an excellent time to get behind the wheel of your next dream ride!
Best Time of Year To Buy a Car
The decisive best time of year to buy a car is December.
To understand why December is the absolute best time to buy a car, you have to check out the detailed stats:-
New models- September, October, November, and December are the months that manufacturers are generally trying to make space for new models.
Especially in September, many automakers venture into the upcoming year’s new models, which decreases the value of the current year’s models substantially.
That’s why in December, prices will always be low for the year. For a buyer, this would be the best time to grab the deal.
Holiday shopping- When the holidays come around, people are usually looking for a new car and during the holiday shopping season, cars are constantly lower in price. You can also grab the super deal during Black Friday.
That’s why December, specifically, the last week of the month is the best time of year to buy a car.
Try to grab the best deal on a car on December 31st, New Year’s Eve.
According to Truecar, you can save up to 8.3% off the price of a new car on New Year’s Eve.
What If I Can’t Delay For December to Buy a Car?
There is an Instance when you don’t want to brag yourself to December to buy a car. So in that case you can still get a hand on a great deal by buying on the last day of another quota.
Let me make you clear with the example. which are the last days of Quota:-
- March 31st (last day of Q1)
- June 30th (last day of Q2)
- September 30th (last day of Q3)
- December 31st (last day of Q4)
You’ll be getting a super deal if you want to buy a car during the last week of a quarter, however, it’s best to go for the last day.
The reason for getting a great deal on the last day of the quarter is because sales managers at dealerships have a monthly quota to hit and get reimbursed on whether they hit it or not.”
Best Holiday to Buy a Car
Holidays are always been good however they even become more popular when it comes to buying a new car.
A ton of offer promotions go on which include special financing rates, zero-percent loans, and cash-back deals.
In a recent study President’s Day is to be believed one of the best holidays to shop for a new car.
It happens during the 3rd Monday of February when sales are sluggish and inventory should be great. Other good holidays are the 4th of July, Memorial Day, and Thanksgiving weekend.
The Best Day of the Week to Buy a Car
If you want to add more savings on a car purchase, I highly recommend buying your car on a Monday.
Most people prefer to buy the car at weekend, however, you will save money if you opt Monday to negotiate for a deal.
Check out the graph below to see the average savings on the price of a car by day:-
|Day of the Week||Average Savings|
Best Time of Year to Buy a Used Car
If you are preparing to buy a used car then wait for October and December. Because these months overlap with the peak season for new car buying at the dealerships, there are tons of used cars available at lower prices.
Car Buying Recommendations:-
Evaluate your wish list – If you have a wish list, access the wish list and prioritize things first, and then you think that buying a new car is your priority or not comparing it with the other ones on the list.
Be naturalistic – It’s true that you will get the better deal if you wait till the last month of the year, however, it’s also true that you have to compromise with an older model or unwanted color. If you are good to go with these things then grab the best deal or expect to pay full price for choosing the latest and desired color of the car.
Wait for the best time – Always wait for the best time as deals always go on. Once you find the deal and you need a new car, go out and purchase one.
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