When is the Best Time to Buy a Car? Save Money with Smart Shopping!
Are you in the market for your next vehicle? If so, you may be wondering: “When is the best time to buy a car or other vehicle?” While this answer does change slightly based on your specific needs, we have some advice about when to buy. This information can help you get a great deal on your next car.
First, Here’s a Little Common-Sense Advice about When to Buy
Before we start with the real tips, here’s a little common-sense tip! If you fall in love with a used car, buy it as soon as possible. Here at Peters Auto Mall, we have a large inventory of used cars, trucks, and SUVs, However, it never fails: if someone walks away from a vehicle, it is gone when they come back later.
That’s not to say you shouldn’t take some time to think about a purchase. Buying a vehicle is a large expense, and you want to be sure you’re making the best decision for your family. If you fall in love, though, pull the trigger and buy it now. If you wait, the vehicle of your dreams could be gone tomorrow (or even an hour later). We’ve seen it happen!
And of course, it goes without saying, but the best time to buy any car is before you really need it. You don’t want your vehicle to break down, leaving your stranded in a potentially bad situation. Even more importantly, you don’t want to drive a car that is unsafe. As U.S. News mentions, always car shop while you have the luxury to take your time. You don’t want to feel forced into buying a car because you need one. It’s a much better feeling to shop around for that perfect new-to-you ride.
Keep in mind that we do 125-point safety inspections on all vehicles that hit our lot. When you buy a used car from Peters Auto Mall, you never have to worry about buying a car that isn’t reliable. If it isn’t reliable, we don’t offer it for sale.
When is the Best Time to Buy a Car? Used Cars Follow New Car Trends
In most cases, the best time to buy a used car closely follows the buying trends for new cars. It makes sense. When people buy a new car, they often sell their old car. Our used car lot sees an influx of vehicles at these times, which means that you can find a deal.
Late May and the month of June
During the month of May, many new car shoppers start to think about getting a new vehicle. The long winter months are finally over, and Memorial Day means new car sales. As these shoppers get new cars, our used car lots see an influx of low-mileage vehicles. Often, you can find cars with less than 30,000 miles and spotless interiors. Many are just one or two years old.
Keep in mind that people are thinking about road trips during this time of year. So, you might find more cars and SUVs available than trucks.
In mid-fall, dealerships start to offer large discounts on their current model year cars. This allows them to make room for the next model year. TrueCar data shows that pick-up trucks start arriving in October. On the other hand, cars are discounted heavily starting in November.
Additionally, during the fall, buyers start to think about the winter months. So, they may decide to sell their car to get an SUV or truck instead of a car. Their new vehicle means that you can get a great deal on a used car.
Black Friday and December
Also, in the fall, Black Friday shoppers cause an influx of used cars to hit the market. Dealers offer big discounts on new vehicles, which often last throughout the rest of the year. Additionally, sales teams are working hard to meet their quotas for the year. So, they offer even bigger discounts on new vehicles. Buyers have an incentive to sell their current car. Often, these cars are less than a year old.
Keep in mind that you will continue to see used car deals in January. Here at Peters Auto Mall, we continue to get in new inventory during January. People get a new vehicle during holiday sales, and then realize they don’t need their previous car. So, they turn to us to sell their vehicle. We make sure every car is in great shape using a full 125-point inspection. In many cases, these vehicles are simply the previous model year. It’s a great time to get a deal.
Remember, the end of a model year is when all models depreciate a little. When the latest version hits dealerships, you’ll see discounts on all model years that came before. For example, when the 2021 models are released, 2020 isn’t the only model that will be discounted. Models from 2019, 2018, 2017 and even earlier will depreciate too.
The Best Day of the Week to Buy a Car
U.S. News reports that Monday is the best day to buy a car from a dealership. This makes sense, since the sales team will be less busy and you can negotiate a better deal. On Saturdays and Sundays, the crowds can make it hard to shop. Plus, they may be less willing to negotiate if there are several people interested in the same car.
However, at our used car lot, we strive to have low prices every day of the week. Yes, we have low prices even on weekends. We make the buying experience as easy as possible by offering pre-scheduled test drives. In fact, you can even shop online any time of day or night before you come to one of our lots. If you see a car that interests you, simply click the button to schedule a test drive to take it for a spin. Click here to shop our High Point lot inventory or click here to shop our Greensboro lot inventory.
Of course, walk-ins are also always welcome. Both lots are open Monday through Saturday from 9:00 AM to 7:00 PM. Our night and weekend hours make it convenient to stop by to see vehicles in person.
How to Get the Most Bang for Your Buck – Our Top Five Tips!
No matter what day of the week it is, you can use our tips to ensure you get a great deal. When you buy a used car, you should drive away knowing that you didn’t overpay.
Always shop with a dealer you trust.
First, make sure you shop with a business you trust. Here at Peter’s Auto Mall, we’ve been serving the Piedmont Triad community since 1993. We work hard to ensure that every customer is happy when they leave. Check out these reviews from real used car shoppers, like this one from Katie L.:
“I had a great experience at Peters Auto Mall! I needed to get a new car due to having issues with my previous vehicle and they made the experience really simple and easy! I would definitely recommend this dealership to anyone looking to make the car-buying situation quick and easy!”
Trade in your old car to maximize your down payment.
The more money you have for a down payment, the more you can afford to spend on a car. If you don’t have a large down payment, however, you can trade in your car. When you trade in your car at Peters Auto Mall, you don’t have the hassle of a private sale. You don’t have to schedule and meet potential buyers or worry about a stranger test driving your car. We make the process easy!
You can learn more about selling your car to Peters Auto Mall here. Essentially, we’ll give you a quote based on factors such as mileage and accident history. Then, you have time to think about our offer. You can take a full week to make your decision.
Shop around for the best auto loan.
We’re happy to walk you through the process of getting an auto loan. If you are new to buying a car, we’ll explain every step and answer every question. We make buying your next car easy! At Peters Auto Mall, we work with lenders who accept all credit levels. However, you can and should shop around elsewhere to find the best interest rate. The interest is what you’ll pay above car price, so you want it to be as low as possible. Many times, we can find you the best rate, but sometimes your bank can beat it. Simply put, you should always look for the best terms.
Test drive every car you’re considering.
Sometimes, the car of your dreams isn’t really the car of your dreams once you get behind the wheel. Every car handles differently. So, we recommend test driving a car before you buy. If you check out our vehicle inventory, you’ll find a huge number of cars to test drive. Click the “Test Drive This Vehicle” button to schedule your appointment. We are also happy to help walk-in customers. Simply bring your driver’s license to either of our lots to test drive a vehicle. If you don’t test drive before buying, you might not be happy with your purchase. Don’t waste your money on a car you don’t love.
Check off features from your “must have” list.
Before you start shopping, make two lists. First, make a list of all the features your next car has to have. Then, make a list of all the features it would be nice to have, but can be compromised. If you just start shopping, you might forget about a feature that you really want.
Here at Peters Auto Mall, we can check features off your “must have” list. (And, we can check features off your “nice to have” list too!) It’s much easier and less expensive to look for features that you want right off the bat. Otherwise, you might need to spend a pretty penny to upgrade, if it is even possible. For example, it can cost hundreds to have a DVD player installed in your next vehicle. So, if that is important to you for road trips with the kids, put that feature on your list.
In addition to features, think about other “must haves” you want for your next vehicle. Do you hate how much your current vehicle guzzles in gas? Look for a hybrid or inquire about smaller cars with great gas mileage. Are you sick of never having enough room in your trunk? Maybe it’s time for a hatchback or SUV. Is it annoying that your white car always looks dirty? Put a different color on your wish list. The sky is really the limit in terms of what you want in your next vehicle. Our job is to help you find it.
When Is the Best Time to Buy a Car – Are You Ready to Start Shopping?
We hope this information has answered your question, “When is the best time to buy a car or truck.” If you’re ready to start shopping for your next car, schedule your test drive. Or, come out to either lot to speak with a member of our sales team. Click here to contact us with any questions you may have.