When is the Best Time to Buy a Car?

When you buy a car there’s a lot that complicates the process. From managing hidden costs to considering what additional features you might want to add, buying a car can quickly turn from simple to frustratingly complex.

This is especially true if you want to find yourself a great bargain when you buy a new car.

With this helpful guide, you’ll get to know the insight on when is the best time to buy a new car for yourself and save the most money you possibly can.

The Best Day of the Week to Buy a Car

You might be surprised with how much you can save by turning up to the dealership on the right day. TruCar.com reports that Monday is the best day to buy a car, with an average saving of 8.10% off the car’s MSRP. Sunday is the worst day to buy a new car, with an average saving of 7.49%. 

While a 0.61% difference between Monday and Sunday doesn’t seem like much, remember that car prices are expensive. A 0.61% of thousands of dollars can mean hundreds in savings!

Weekends are busier for car dealerships, as people finally have free time away from work to spend time properly looking for a new car.

With everyone going to shop for cars on the weekends, car dealers have less incentive to hold sales as they already have foot traffic onto the dealership floor.

Brian Moody, executive editor at Autotrader has said that “If you call or email a dealer on a Monday, there is a chance that you’re going to get either a better deal or simply more attention.”

The Best Month to Buy a Car

Many people often ask “is December the best time of year to buy a car?” And the answer is simply, yes. If you want to get even more specific, the best time of the year to buy a car is actually the last week of December. 

It’s important to understand why this is the case.

Salespeople and the dealerships themselves will have annual quotas or targets that they need to hit in order to earn their bonuses.

Because of this, dealerships will offer new-car incentives and discounts in order to lure in customers away from their competition so they can boost annual sales. 

Discontinued models may also be heavily discounted to make way for the next wave of models from the automaker. Chris Li of J.D. Power notes that “The highest [incentive] spend weeks are often in December. And the final weekend is typically the highest single period.”. 

This makes the final week of December full of fantastic deals and the best time of the year to buy a car, regardless of if you want an SUV or a hatchback, or anything in between.

What if I need a new car earlier?

If you simply can’t wait to make use of the December deals, it’s smart to instead buy a car during the final days of other quotas.

But, how can you tell when these times are? It’s easy, simply consider the end of financial quarters. The financial quarters are:

• September 30th (End of Quarter 1)
• December 31st (End of Quarter 2)
• March 31st (End of Quarter 3)
• June 30th (End of Quarter 4 and end of financial year)

You’ll likely see advertisements for the end of financial year (EOFY) sales, making it another of the best time to buy a car in Australia.

If you can go on the very last day of the financial quarter, you’ll likely receive the best deal possible.

What about Holidays?

If you’re seeing advertisements for holiday car sales and are feeling skeptical, don’t! Holiday sales are usually some of the best times to buy a new car.

These usually line up with the end of financial quarters, months, or even the end of the lifecycle of a particular model of car. 

Visiting your local dealership to see if you can get a good bargain on a holiday is definitely a smart move. 

New Models, New Bargains

It might be tempting to buy a new car when the newest model gets released, however, you should consider looking at older models when this happens, not the newest models. 

Why? As the model is soon to be replaced by its updated counterpart, you’ll likely be able to snap up a great deal as the dealership will be eager to move it off their lot to make way for the next wave of vehicle models. 

If a car has been available for 3 to 4 years, an updated model is surely set to be released. It pays to be patient when it comes to making the investment of buying a new car.

Other Tips on the Best Time to Buy a Car in Australia

There is a wide range of tips available on how you can find the best time of year to buy a car for every make and model of the car you might be looking for. Other great tips include:

• Convertibles sell more in summer and spring, but sales falter in winter. Keep an eye out for bargains on convertibles in winter, where dealerships may be looking to clear stock.
  
• Huge bargains on new cars mean people will be upgrading from their existing cars, and likely selling them to reduce the out of pocket expense of the purchase of a car. This means that holiday and quarterly sales are also some of the best time to buy a used car in Australia. Someone else is upgrading their car, and now you can upgrade too.
  
• Four-wheel drive sales are strongest in autumn and winter, boosted by everyone experiencing harsher weather and worse driving conditions. As such, you can likely find a good deal on four-wheel drives when you’re looking to buy a new car in summer when four-wheel drive sales slow.

Remember that patience is key when you buy a new car. The best time to buy a car might be a while off, so stay vigilant for sales and choose a good day to visit your dealership. 

How to buy a car in Australia isn’t the hard part, buying a car and making big savings is. Use these handy tips and don’t spend more on your car than you absolutely need to. 

Lastly, when you buy a car Perth dealerships are eager to sell cars, so make sure to shop around and use your quotes as a bargaining tool.