The economic downturn has forced many car buyers to take advantage of every possible opportunity to save money. A question on many consumers’ minds is when is the best time to buy a car? When will you save the most money? Should you wait for the next weekend or hold-off until the end of the month? Shop on Saturday or during the week?
It turns out that cutting-edge technology can now indicate the exact day in June when consumers can expect to receive the largest discount from car dealers.
The new kid on the block for vehicle valuations is TrueCar.com. They have harnessed car buying data from around the country and determined that car dealers will be willing to discount the selling price of new vehicles more on Saturday, June 25th compared to any other day of the month. TrueCar has determined that dealers will offer an average discount of 8.28 percent on the 25th, a full two points more than the worst shopping day over the next 30 days.
Putting this into perspective, saving 2 percent on a $20,000 vehicle purchase puts an additional $400 in your pocket.
When I was Internet Manager for a major car dealer, all sales staff were under enormous pressure to bring in as many customers as possible at the end of the month. Don’t expect to get an extra day off work at month-end if you make your living selling cars. Why? Car dealers are always trying to achieve the maximum number of sales at the end of the month so they can hit sales goals and receive the resulting bonuses for the dealership, management, and sales staff.
Also, Saturdays are the busiest car shopping day of the week. Saturday afternoons can be crazy-busy at many dealerships. With June 25th being the last Saturday of the month, expect it to be one of the most hectic shopping days in June. Do you plan on shopping for a car June 25th? Come prepared and arrive as early as possible.
Remember that dealers will be vying for your business so check out local ads to see which ones are offering the most competitive savings on the car, truck, or SUV you want to buy. This is a time to shop around because dealers who are lagging behind their June sales projections may be advertising better-than-expected deals for a very limited time. Savvy car shoppers can save big.
However, if you want to avoid the hustle and bustle of Saturday car shopping, bypass the weekend and arrive on Monday morning. This is probably the quietest time of the week to buy a car so you’ll have the car dealer’s full attention.
Good news about shopping Monday, June 27th: the dealership is still under pressure to make as many sales as possible to meet their end of the month goals. They also know that Mondays can be an excruciatingly slow day for car sales. It’s my experience that dealers will jump at the chance to put a sale on the board first thing Monday morning. So if you arrive during the morning on June 27th, expect to get as good of a deal as you would have received the previous Saturday.
Basic car shopping rules
No matter which day you shop, be sure to use the Internet for your pricing research. If shopping for a new car, simply click on the “New Cars” tab at the top navigation bar on this page. You’ll be able to find the sticker and invoice prices on your target vehicle, as well as the dealer’s actual cost. Along with these figures, you’ll discover the price you should try to get from your dealer of choice if you want a good, or even a great car deal. In this day and age, accurate information is a car buyer’s best friend.