What Months Do Car Prices Drop?

As a car blogger who has been in the industry for quite some time now, I have gained experience and knowledge about how the car market works. One question that I often get asked is when the best time to buy a car is. From my experience, the answer is simple – it’s all about the timing! In this post, I will discuss what months do car prices drop and my insights on each month which I have gained from my years in the car industry.

October – A Month of Savings

As the year progresses and winter approaches, buyers tend to avoid purchasing cars, and that’s where October comes into play. Dealerships are looking to clear their lots for new models, and this is the perfect time for buyers to get the best deals on old model cars. During this month, car dealerships will offer discounts and incentives to entice customers to make a purchase. Buyers can save up to thousands of dollars on a new car during this month.

If you are looking to buy a car in October, make sure to do your research beforehand. Look for models that are on clearance sales or are being discontinued soon. These models typically have higher incentives to clear them out. If you have an older vehicle, consider trading it in during this month as dealerships are looking for quality used cars to resell.

November – Black Friday Deals

November brings with it the Black Friday weekend, and the auto industry is not one to miss out on the shopping frenzy. Buyers can take advantage of Black Friday deals offered by dealerships on various car models, making it one of the most lucrative months to buy a car. While many shoppers may be focused on electronics or home goods, savvy car buyers can score significant discounts on both new and used cars.

In addition to Black Friday sales, November is also an excellent month to take advantage of manufacturer promotions. Car brands often release new promotional offers for the month, including cash back and financing incentives. Customers can save thousands of dollars on a car loan when taking advantage of these promotions.

December – End of the Year Sales

As the year comes to an end, dealerships start their end-of-the-year clearance sales. Buyers can benefit from these clearance sales and get some of the best deals on cars that the dealership needs to clear out to make room for new inventory. Many dealerships offer not only discounts but also incentives such as free maintenance or warranties. These incentives add even more value to a vehicle purchase.

If you are looking to buy a car in December, it’s important to time your purchase correctly. Dealerships will want to meet their end-of-year sales quotas, so make sure to visit towards the end of the month. Additionally, you should be prepared to negotiate with the dealership. While end-of-year sales are great for deals, there is also a lot of competition, so be prepared to have a salesperson who will be willing to work with you to make a sale.

January – New Years Sales

The new year brings forth renewed energy and excitement, and car dealerships are no exception to this. Buyers can expect to find incredible sales and discounts on cars that the dealership wants to move to make room for new stock. During this month, car dealerships will be motivated to get old inventory off the lot and sell new models.

In addition to sales, January is also a great month to consider financing options. Many banks and credit unions will offer lower interest rates on car loans at the beginning of the year, making car buying even more affordable.

February – Presidents’ Day Weekend

Presidents’ Day Weekend in February is a perfect time to go car shopping as dealerships offer sales and discounts on their inventory. As the year progresses, it becomes increasingly important for dealerships to clear out old inventory. This weekend offers excellent opportunities to save money, and dealerships often provide additional promotions such as lower financing rates.

If you are interested in a specific car model, it’s also worth considering buying a previous year’s model during this time. Typically, car dealerships will want to sell these out before the new models arrive, and during Presidents’ Day Weekend, they may offer additional incentives to move them quickly.

July and August – End of Summer Sales

The warm summer months of July and August spell the end of the current car model year. With dealerships looking to clear out inventory to make way for new models, buyers can expect some incredible discounts and offers during these months. It’s worth noting that inventory may be more limited during this time since dealerships may have fewer options in stock.

Although the selection may be limited, buyers should still do their research and decide what they want before heading to the dealership. During this time, many people are going on vacation or enjoying the outdoors and may forget to take advantage of these deals, giving you a greater chance of saving.

September – Model-Year Sales and Clear Outs

Dealerships will start offering sales and incentives for customers to get rid of the old inventory in September. Buyers looking specifically for newer model year cars can find great deals in September to clear the way for the upcoming new models. Inventory may be limited, but dealerships are looking to move these vehicles to make room for newer models.

If you are looking for the latest model-year cars and want to save money, September is the perfect time to visit a dealership. Many dealerships offer substantial discounts and incentives to buy current-year models, making this month a great opportunity to get the latest cars at a lower price.

In conclusion, timing is everything when it comes to buying a car. Understanding which months bring with them the best deals can save you a lot of money. Now that you know the best month to buy a car is during October, November, December, January, February, July and August, make sure to keep this in mind when planning to make your next car purchase. Remember, doing research and being prepared to negotiate can help you find an even better deal!