Unlock the Best Time to Buy a Car: Expert Tips for 2024

So, you're thinking about buying a car and wondering when’s the best time to make your move, right? Well, let’s break it down in a way that actually makes sense without all the usual car jargon.

Old Wisdom

Typically, everyone says the end of the year is the time to buy. Why? Dealerships are trying to get last year’s models off the lot to make room for the new arrivals, so they're more willing to cut you a deal. Labor Day and the days after Christmas are traditionally great times to hunt for bargains.

But Here’s What’s Up Now

Lately, things haven’t been so typical. With all the disruptions from the pandemic, those predictable end-of-year sales aren’t a sure thing anymore. Tyson Jominy from J.D. Power mentions that while we're starting to see some holiday sales creep back, they aren’t as big or as frequent as before.

Finding Those Deals

Even though the big holiday blowouts might be hit or miss, deals are definitely still out there. With car stocks getting back to normal, automakers are getting a bit more generous with discounts—not necessarily tied to holidays. You might see decent price drops on SUVs and trucks, for example, as dealers try to shift them off the lot.

When to Hit the Dealership

Despite the changes, some things stay the same. Late summer and the actual end of the year still see dealerships trying to clear out old stock. If you're after a high-end car or a luxury model, December can still be golden—thanks to those year-end pushes to meet sales goals.

And Used Cars?

The used car scene is a whole other game. Prices have been wild recently, thanks to fewer people trading in their cars during the pandemic. But as more new cars are sold and trade-ins pick up, there should be more used cars available. Right after big sale periods like Labor Day might just be the perfect time to start looking for used bargains.

Thinking About a Trade-In or Lease Buyout?

If you're nearing the end of your lease or considering a trade-in, good news: your car might fetch a decent price. Used car values are still pretty strong, so it could be a great time to see what your car is worth or think about buying out your lease.

Bottom Line

Car buying isn’t as cut-and-dry as it used to be, but timing still plays a big part. Keep an eye on trends, watch for those quieter deals, and always shop around for the best finance offers. With a bit of savvy shopping and good timing, you’ll find yourself a deal that makes sense for you. Happy car hunting!