When is the best time to buy a car?

The answer to this question will vary from person to person, of course. Here is some information to guide you as you shop for cars so you can make the best financial decision for you. 

It helps to know what you are looking for ahead of time. Buying a car is a big decision, so doing in-depth research is important to make sure that you get the right vehicle for your lifestyle and needs.  

Get ready to car shop by reading our blog post on hacks for buying a car in today's market.

Choose the best vehicle for you with our handy Vehicle Research Tool.

When is the best time of year to buy a vehicle?

There's no question that you can save money on a new car when it is suddenly last year's model. Paying attention to the year of the car model you're interested in can really help you save. Once a model year has passed, consumers typically are more drawn to the newest model. For example, the second the 2025 model comes out, fewer consumers will be drawn to the 2024 model, so prices on older models will drop.

In addition, car prices tend to drop toward the end of the year. This is because salespeople are trying to push out as much inventory as possible before the start of the new year so they can meet their sales quotas.  

The general consensus for when that “end of year” period starts is October. Based solely on the behavior and trends of car salespeople, one could say that the best time to buy a car would be between October and December, but is important to consider other factors as well. 

When is the best time of month to buy a vehicle? 

According to Marketwatch.com the best time of the month to purchase a vehicle is during the last week of any month or quarter. So, the last week of March, the last week of June, the last week of September, and the last week of October would be prime examples of great times to buy a vehicle at the best price. This is also due to sale people meeting monthly quotas.

When is the best time of week to buy a vehicle? 

Most showrooms are least busy on Mondays, which makes this day a great time to shop for a car. This is because you are more likely to get the service, attention, and time that you need to make an informed decision and to test drive any vehicles you might be considering. If a car dealership is closed on Sundays, Tuesday is also a great day to car shop, as the dealerships that are closed on Sundays tend to be busier on Mondays. 

Learn more about market trends for cars here.

Now that you know the best times to buy a car, it is important take into account your own lifestyle and needs

Be sure to pick a day when you won’t feel rushed during your car shopping experience. This means that you want to go to the dealership when you don't have any other commitments so you can focus all of your energy on getting the right vehicle at the right price without the distraction of looking at the time, worrying about being late, or feeling too rushed to take a test drive.  

Additionally, it is important that you car shop when you are financially prepared. Make sure you're ready with cash on hand to make a down payment so you can negotiate the lowest monthly car payments possible. Aim to leave a cushion of extra funds after making a vehicle purchase in the case something needs to be fixed on the vehicle or an emergency expense comes up.  

All in all, it is important to take note of both market trends and your personal and financial situation to determine when the best time is for you to buy a car. 

Shop for discounts

When you're ready, make sure you look for discounted auto loans. For example, be sure to check CAFCU's Current Promotions page to see what specials we have running.

Good luck with your search!