What Is the Best Time of Year to Buy a Car?

December 12, 2019

Have you ever heard of the toilet paper study?

The University of Michigan tracked the toilet paper purchases of more than 100,000 American households and found out something that seems obvious, but has far-reaching implications to our buying habits, both here in the U.S. and around the world.

Households earning less money spent an average of 5.9% more per roll of toilet paper than wealthier families.¹

So, how does this relate to buying a car?

It all comes down to planning. Financially stable households tend to wait for deals and stock up when the time is right. More impoverished families don’t have extra cash lying around and tend to buy things on an as-needed basis. Therefore, they end up paying more because they’re not taking advantage of sales and opportunities to buy in bulk.

The same principle applies to car buying. If you can afford to wait for the right time of year, you could save 8.3% off your purchase price just for being flexible with your timeframe.² Add on holiday specials, dealer promotions, manufacturer offers, and your superior negotiation skills, and you could potentially save even more.

We’re about to share information that will hopefully make your negotiations go more smoothly, while saving you thousands of dollars in the process.

Best Day of the Week to Buy a Car

Weekends seem like the most logical time to go car shopping, but they’re the absolute worst days if you want a good price. Most people are off work on Saturdays and Sundays. They have time to browse a lot and test drive vehicles. Prepare for the dealerships to be extra crowded.

You’re likely to get less attention, and the salespeople aren’t going to be as motivated to negotiate with you when three other potential buyers are lurking nearby.

Data from TrueCar.com found that buyers saved an average of 8.10% off sticker price on Mondays, but only 7.49% on Sundays for a difference of .61%.³Are people better at negotiating on Mondays than they are on Sundays? Not likely! The price difference says more about how busy the dealership is and how many prospects are ready to buy.

An exception to this weekend rule is for holidays. Presidents Day, Memorial Day, Fourth of July, and Labor Day holidays are known for blowout specials. While skeptics might think the deals are hyped, there are genuine savings to be had.

Best Months to Buy a Car

Salespeople in the car industry have aggressive quotas to meet – usually, there monthly, quarterly, and yearly quotas. So, by delaying your purchase until the end of the month, you could have more negotiating power. That power could increase if you wait until the end of the quarter or year when they have more than one quota to meet, and a hefty bonus check could be at stake.

Consider buying on these days, especially if they fall on a Monday, Tuesday, or Wednesday:

March 31^st

June 30^th

September 30^th

December 31^st

Keep in mind that not all dealerships follow the same monthly calendars. For example, some of them may close out their month a day or two early. You won’t necessarily know if that’s the case when you’re there, but if you’re car shopping on the last day of the month, and your negotiations are going nowhere, try going back the next month on or around the 26^th.

The Best Day of the Year to Buy a Car in 2019

Typically, December 31^st is the best day of the entire year to buy a new car, and the calendar is particularly favorable for 2019. This year, New Year’s Eve falls on a Tuesday, making it an ideal day of the week for car buying.

Because December 31^st is the last day of the month, quarter, and year, and you’re bound to encounter some eager salespeople that are ready to put you in a new car at a price that’s lower than usual.

The Best Day of the Year to Buy a Car in 2020

You might be surprised that another perfect time to buy a car is on January 1^st.

January is a slow month for retail because, and the market for luxury goods is particularly depressed. There’s also the mindset that comes with starting a new year fresh, and dealers are anxious to get rid of last year’s models. Even though new models typically come out in the fall, by the time January rolls around, dealers are going to be itching to get rid of any 2019 cars on their lots.

Bottom Line: The more flexible you are with timing, the better your chances of scoring a deal. By avoiding the weekend rush and visiting a dealership at the start of the week, you can automatically shave almost 1% off the price. Time your purchases toward the end of the month, and especially at the end of the year, and you’ll come away with a new car at a price that might shock you.