If you thought December was the best month to buy a new car, you’re not alone, as that’s commonly accepted as the best time for dealerships to clear out inventory. Turns out, that’s a myth, and new data suggests there are other, better months for purchasing your new car.
So, which month is best for buying a new car?
According to a new study by TrueCar, new car and truck prices in August have averaged $29,296 over the last five years. That’s at least $169 lower than any other month of the year, making August the best month to buy. The average price of a new car or truck in December is $31,146, actually making it the most expensive month to buy a new car (ouch).
“This is a great example of the power of data, which shows dealers are clearing out older inventory in August,” said TrueCar founder and CEO Scott Painter in an autos.aol.com article. “Consumer buying trends have been turned upside down during the past decade due to the emergence of big data.”
Many consumers used to assume that December would be the best month to buy a car as a result of dealerships pushing to meet end-of-year goals and make room for next year’s models – thus causing them to place big incentives on inventory. This kind of data proves that assumption might cost you, and dealers are actually offering their biggest incentives in the summer months (July came in as the second cheapest month to buy a car).
TrueCar also offers some other guidance; shop on Sundays for a car, not Fridays, and shopping within the first couple of days saves buyers an average of $390 versus the rest of a given month. Who knew?
Now that we’ve offered proof, there has never been a better time to buy – really. Come on over to Gladstone Nissan today to get the best possible deal on your new car.