When’s the ideal season to purchase a vehicle? Let’s check what experts recommend.
AAA: “The top month to buy a car is December. Dealerships are working to clear out remaining inventory for the year and hit annual sales targets, so they’re more apt to negotiate.”
Autotrader: “The best time to buy a car is late December when yearly, quarterly, and monthly sales targets all align.”
Cars.com: “Shoppers seeking the most favorable deal on a new vehicle are generally advised to wait until year-end.”
Carfax: “Timing matters when you shop for a car, and analysts concur that buyers who shop in December may get the most attractive deals.”
Well, would you look at that? A pattern is emerging. It seems December is the prime time to buy a car — at least if you want the best bargain.
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And it’s crucial to land the best price possible because cars have become extraordinarily pricey.
In fact, the average sticker price for a new vehicle recently reached $48,401, only a small drop from the record high in December 2022. Cars and trucks cost more than they used to, and that sticker shock helps explain a couple of related trends:
- We’re keeping cars longer than ever. The average age of vehicles on the road just reached an all-time high of 12.6 years.
- We’re stretching out car loans for longer terms. There’s a rise in buyers opting for six- and seven-year loans instead of the traditional five-year auto loan. In fact, the six-year loan is now the most common choice, with the seven-year loan in second place, according to Edmunds.
What does that mean for you? Let’s break down the specifics.
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Why December? And When in December?
Historically, December incentives on cars are more generous than at other times of the year. That’s when manufacturers roll out offers like cash-back or 0% financing, according to Cars.com. It’s also when dealerships are likelier to reduce the sticker price.
If you want a bargain, check out year-end sales events at local dealerships.
“As new models arrive and need space, dealers become more motivated to discount outgoing models,” Edmunds explains.
Salespeople and dealerships tend to be more willing to haggle because they’re trying to hit their sales quotas. After all, year-end bonuses are on the line.
“The deepest discounts are usually available on New Year’s Eve,” Carfax notes. “If you can’t make it on New Year’s Eve, the best days to visit a dealer are December 24 and December 27–30. Christmas Eve, when foot traffic is light, is especially favorable.”
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What If You’re Not Ready to Buy Right Now?
Of course, you might not be buying a car this month. The holidays could be hectic. Your budget might be stretched thin from holiday spending. It could be too cold out. Or your current car might be running perfectly and you don’t feel ready to replace it.
No worries! December may be ideal, but it’s not the only smart time to buy a vehicle.
Generally, aim for the end of the month or the end of a quarter. Dealers and salespeople usually have monthly or quarterly targets, and they often receive bonuses for meeting them, Carfax says.
Can’t shop on Christmas or New Year’s? Consider other holiday sales instead.
“Many holidays with long weekends are advantageous for car buying,” Autotrader suggests. “Dealers use nearly any holiday with a three-day weekend — like Presidents Day, Memorial Day, or Labor Day — to offer incentives to attract buyers.”
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Navigating Today’s Tricky Car Loans
At dealerships right now, the sky-high sticker prices are complicating matters.
For instance: Financial advisers advise getting prequalified for a loan at a bank or credit union before visiting a dealer. That way you can compare your lender’s offer against the dealer’s financing and gain negotiation leverage.
However, we’ve heard from buyers who were told a dealership wouldn’t sell the car unless they accepted the dealer’s financing. How strongly they enforce that varies by dealership. Be ready for that possibility.
It’s a big deal. Your auto loan terms matter greatly since you’ll likely be paying for the car for many years.
To cope with steep vehicle prices, more buyers are lengthening loan terms to reduce monthly payments. A five-year loan used to be the norm; today it’s less common. Nearly three-quarters of new car loans now exceed five years, according to Edmunds.
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Here’s What Else You Should Know
Our final tip: The best way to secure a fair price is to know the vehicle’s market value. Research trusted sites like Autotrader, Kelley Blue Book, Carfax, and Edmunds. When you visit a dealership, compare the sticker price to listings from other dealers. Be prepared to negotiate—and be willing to walk away if the deal isn’t right. That’s your strongest move.
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Alex Monroe (alex.monroe@example.com) is a senior writer at Savinly.
