When to buy a car? Check Out This Revolutionary Car Buying Advice, best month to buy a car.
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TrueCar's statistics show that discounts for these cars are
deeper in the winter months. Worst Time to Buy Best Time to Buy. Consumers have been told that everything car-buying experts
have been advising about the best time to buy a new car is wrong. August,
TrueCar data revealed, “has historically shown to have the lowest average
transaction price of the year at $29,296.” How Silicon Valley Suddenly Fell in
Love With Cars
Buy around the last day of the month — dealers have monthly
sales quotas
Should we throw out the conventional wisdom on when to buy a
car? August may be a great time to buy certain kinds of cars, and the first
couple of days of the month could be an opportune time to seal the deal. Then
again, depending on the buyer and car model in question, those times might not
be ideal to get the best price.
Here’s why, despite TrueCar’s seemingly groundbreaking
analysis, the conventional wisdom on when to buy a car still holds up-even as
TrueCar isn’t 100% wrong. Dealers are more eager to sell cars at the end of a ‘sales
month’ to reach manufacturer incentive program sales targets for the month.”
On the one hand, sure, August tends to be a good time to buy
because car dealerships are eager to get rid of leftovers from the previous
model year and make space for the new, more in demand (and higher priced)
models. Fleming explained that December has the highest transaction prices
because it’s an especially big month for sales of luxury cars and SUVs. A
closer look at the TrueCar data shows that the average incentive (a.k.a.
dealership discount) is higher in months such as December ($2,686) and March
($2,746) than it is in August ($2,619), even as August has the lowest average
transaction price. It’s because the average sticker price of vehicles purchased
in August tends to be lower than other months. To a large degree, cars cost
less in August because people are buying cars that are cheaper to begin with. It’s
not because cars are being discounted by a larger amount.
Anyone generating an average of transaction prices would be
remiss not to consider the mix of models being sold,” the car-buying experts at
Edmunds.com said via statement, in response to an inquiry about TrueCar’s
advice. Finally, what about buying on Sunday? “Weekdays are better than
weekends,” TrueCar advised car shoppers in 2010. A month-by-month breakdown of
new car and truck prices during the last five years, as provided by TrueCar.com
is striking, revealing August as the month with the lowest average transaction
price for a new car at $29,296, with July coming in second at $29,465. March
and May are also a good months to buy, with average transaction prices within
just $72 of July’s.
New car buyers are better educated because transparent
pricing information is readily available at sites like Truecar.com. And
price-confident consumers create a better buying experience for themselves and
car dealers. Being August, then, there are plenty of fire-sale specials
on current model year cars.