Best time to buy a car?

[kiramay]

My DH has a 2001 civic that has served us well. However, we've moved and his commute has tripled. With winter coming he'd like to get a Honda CRV both for comfort and safety. Adding a $400 car payment is not going to be easy. When are the best sales or incentives to buy? We're in no hurry, just want it before the first Chicago snowstorm.

Thanks!

 

[okeydokey]

Around here (N. FLorida) dealerships are saying that the new models are in for 2016 so the 2015 models are on sale. We have purchased a car in the Fall and bought a new car in the previous model year and gotten a goo deal. I say start looking now.

 

[HM]

Last day of the month (any month) if the dealership is trying to meet a quota. Got a great deal on our last two cars that way. (We did our search online first and then worked two dealerships that had similar cars looking for the best deal).

I bought my 2007 Honda Odyssey in Nov 2007...when they were offering $6000 off the list price (ad on tv) since they were trying to get rid of 2007 stock. 2008s had been on the lot for a few months already).

The other cars mentioned above were purchased much more recently.

 

[amcnj]

I too have seen some local dealers' websites starting to offer extra savings on leftover 2015 models. Some is due to additional manufacturer discounts being offered to clear out the older inventory too. Of course this will vary by manufacturer and dealers, as some may not have 2015 models remaining.

 

[DawnM]

I have heard that Labor Day weekend is a great time to buy a car. The new models are coming out and with the long weekend, dealers are ready to deal.

 

[SM101]

Look around for "dealer cars" on sale under the used car section of a dealership. A dealer car is one that is maybe a year old and has very low mileage - it's been used as a loaner within the dealership. Typically it'll have 3-6,000 miles on it and still under warranty at a used car price. I got my last one 5,000 off a "new" car that way.

You can also look for low-mileage lease trade-ins.

And again, as someone mentioned above, look for the 2015's now that the 2016's are in. You can get a much better deal.

 

[SandyinMonterey]

We're looking to get a new car too. I've been researching on line and have found that Winter seems to be best time for greatest chance for potential discounts, but as year wanes, inventory lowers. Also to shop on a Monday or Tuesday. At the end of the month and to make offer late in the day. Also to consider last year models.

 

[Narnia_girl]

My son bought his first vehicle today--a Honda CRV. He bought used from a dealer. CRVs seem to hold their value well. I second the point above to buy certified used cars--great prices and reliability.

 

[xlxo]

I too am starting to see incentives this month. We are entering a recession... not many are buying cars.

• I wonder if Black Friday will have good prices.
• Where I am, Christmas is a good time too when the dealership showcases year end prices
• I also like to visit dealerships on the last week of the month. Sales reps need to make a quota by month-end. I like to see them squirm with incentives for me to buy on the spot.
• If you don't like to haggle... check out auto brokers in the area.

If price is important to you and you live in the city... seriously research hybrid vehicles. You mentioned a CRV.... do some research on the Toyota RAV hybrid coming in 2016. I like the idea of having the engine turn off when I'm stuck in traffic or drive through city streets with lots of traffic lights.

Some complain hybrids don't give you good fuel economy. I think it really depends on the driver. When I'm easy on the accelerator, I can beat the posted gas mileage on my Prius. Huge savings compared to my minivan. Enough to cover my monthly car payments.

Depending on where you live... if your local electricity comes from hydro (not nuclear or coal)... check out the fancy electric vehicles. Amazing how much you can save on fuel.

 

[tvguy]

I too am starting to see incentives this month. We are entering a recession... not many are buying cars.

• I wonder if Black Friday will have good prices.
• Where I am, Christmas is a good time too when the dealership showcases year end prices
• I also like to visit dealerships on the last week of the month. Sales reps need to make a quota by month-end. I like to see them squirm with incentives for me to buy on the spot.
• If you don't like to haggle... check out auto brokers in the area.

If price is important to you and you live in the city... seriously research hybrid vehicles. You mentioned a CRV.... do some research on the Toyota RAV hybrid coming in 2016. I like the idea of having the engine turn off when I'm stuck in traffic or drive through city streets with lots of traffic lights.

Some complain hybrids don't give you good fuel economy. I think it really depends on the driver. When I'm easy on the accelerator, I can beat the posted gas mileage on my Prius. Huge savings compared to my minivan. Enough to cover my monthly car payments.

Depending on where you live... if your local electricity comes from hydro (not nuclear or coal)... check out the fancy electric vehicles. Amazing how much you can save on fuel.

Hybrid sales are down 30% this year, and every automaker has huge incentives on hybrids, so they are getting closer to making economic sense. Might be worth a look.

 

[xlxo]

With regards to hybrids... there are so many vehicles to choose from and more each year. Each with different strengths.

• there are gas assist (Toyota's)
• electric assist (old Honda's). Hybrids that have their gasoline engines running when at a red light.
• plug-in's (all electric). Nissan Leaf is my fav. Tesla's are nice, but can't afford
• plug-in w/ gas extend (gas backup). Chevy Volt is the best example. Prius offers one too, but smaller battery.

As mentioned earlier, the type of driver can make a difference on fuel economy beyond the red light. If you like to be above the speed limit and ahead of the pack, you will not get the hybrid/electric benefit of someone at or below the speed limit.

When going for test drives... Pay attention to the braking.... I like Toyota, Nissan Leaf, Kia Soul, the Chevy Volts in my test drives. The regenerative braking comes on so smooth compared to Mitsubishi, Fords, and Smart cars. I hate brakes that grab... especially on winter roads.

One other thing.... cargo space may be an issue on some vehicles... the Prius V may be double the storage compared to other vehicles.

 

[kathy884]

Timing for buying a new car: Before the one I'm driving needs a second timing belt, when I've gotten the useful life I planned out of the car, and would like to replace it. Actually most people I know in Missouri like to do it after the first of the year, so the new car won't be on their personal property taxes for a whole year (anything you own my December 31st counts as personal property for the next year). I didn't follow that rule though and bought a car last October -- my car had served it's useful like and had dry rot on the suspension and tires (so expensive repairs that were recommended within the next few months that I didn't want to do). My old car was a Honda minivan -- 11 years old -- 165,000 miles.

I ended up buying a used car, a 2014 Nissan Murano with 10,000 miles on it from Enterprise car sales.

 

[Gumbo4x4]

First of the year is usually a slow sales month, so dealers are willing to deal, plus the personal property tax thing, but you're saving maybe a couple hundred bucks there (I'm also in Missouri).

But, I've found "now" through the Fall is a great time to buy "last year's" model. We got more than $6,000 off the sticker price of our 2014 Focus last Summer.

 

[tvguy]

Timing for buying a new car: Before the one I'm driving needs a second timing belt, when I've gotten the useful life I planned out of the car, and would like to replace it. Actually most people I know in Missouri like to do it after the first of the year, so the new car won't be on their personal property taxes for a whole year (anything you own my December 31st counts as personal property for the next year). I didn't follow that rule though and bought a car last October -- my car had served it's useful like and had dry rot on the suspension and tires (so expensive repairs that were recommended within the next few months that I didn't want to do). My old car was a Honda minivan -- 11 years old -- 165,000 miles.

I ended up buying a used car, a 2014 Nissan Murano with 10,000 miles on it from Enterprise car sales.

There is a lot of value in former rental cars. I bought my kids 1 year old Hertz Tauruses, a 2006 in 2007 and a 2007 in 2008, both under 30,000 miles, both under $10,000. The 2006 now has 125,000 miles on it and needed zero repairs for 100,000 miles. The 2007 has 73,000 miles on it and has needed 1 repair.

I know I am lucky in California not having to deal with rust......my family car is a 1987, been paid for for 25 years, and I spend on average an amount equal to two months car payments a year on repairs. Did have to put in a new transmission this year, but at $1,900, that was half what just the sales tax on a new one would be. That wouldn't be possible if we had rust problems here.

 

[Best Aunt]

I bought a new Honda Accord on 08/01/2011 after my old one was in an accident. The next year's model wasn't available yet; the current year's model was almost gone. They searched in 3 states and could only find 1 in the trimline I wanted. So don't wait too late in the summer if you are trying to get a deal on a new car.

 

[tvguy]

I bought a new Honda Accord on 08/01/2011 after my old one was in an accident. The next year's model wasn't available yet; the current year's model was almost gone. They searched in 3 states and could only find 1 in the trimline I wanted. So don't wait too late in the summer if you are trying to get a deal on a new car.

Not sure what would prompt such an early sell out. The Honda dealer 3 miles from my house has 84 2015 Accords in stock, the dealer 6 miles from my house has 73. They both have 2016 Hondas in stock, but none of them are Accords.

 

[LSchrow]

Look around for "dealer cars" on sale under the used car section of a dealership. A dealer car is one that is maybe a year old and has very low mileage - it's been used as a loaner within the dealership. Typically it'll have 3-6,000 miles on it and still under warranty at a used car price. I got my last one 5,000 off a "new" car that way.

You can also look for low-mileage lease trade-ins.

And again, as someone mentioned above, look for the 2015's now that the 2016's are in. You can get a much better deal.

absolutely!
don't lock yourself into only the year ending - you can get some great deals on cars coming off leases.
scour cars.com, autotrader, etc frequently.
little story: when my 12yo Jeep Grand Cherokee Limited was starting to show it's age, I checked websites daily for another. As long as it was the same (GC lim), I was flexible with year. finally found exactly what I wanted, but it was too pricey.....oddly, this Jeep seemed to appear & disappear randomly from cars.com for over 2 months. finally it reappeared, at a fantastic price (about $7,500 less than comparables), and we drove right to the dealership - where they couldn't find it!! I really, REALLY wanted it so they did some investigating: winds up that one of the salesmen had it at home a while ago. since their web sales dept assumed it was laying in the lot unsold for a reason, they kept lowering the price.
btw, it had come off an "executive" lease with only one blemish: a quarter-sized dent, and had literally every single upgrade/accessory available at the time (Hemi, all leather/heated, DVD, upgraded audio/tires & rims/trim, 8 cyl, 5.8L, towing pkg, etc). sooooo, patience & perseverance certainly does pay off - I got my dream car at a great price!

 

[tnklvr]

We just ordered a 2015 Toyota Rav4 from the factory since they didn't have one like we wanted anywhere in America. We made sure we knew the prices these cars were going for in our area and did deals online for the best offer getting them down as much as possible. I noticed this month the same car is about $250 lower than it was last month due to year end clearances. New Toyota Rav4 will most likely hit the lots in September. I also noticed that the factory is sending all the left over 2015's to the lots so there are a lot more on the lots than there were a month ago. You won't get the factory incentives on the new 2016 for several months so I would either buy a 2015 now while the incentives are there or wait till they start offering incentives on the 2016's.

 

[manning]

Last day of the month (any month) if the dealership is trying to meet a quota. Got a great deal on our last two cars that way. (We did our search online first and then worked two dealerships that had similar cars looking for the best deal).

I bought my 2007 Honda Odyssey in Nov 2007...when they were offering $6000 off the list price (ad on tv) since they were trying to get rid of 2007 stock. 2008s had been on the lot for a few months already).

The other cars mentioned above were purchased much more recently.

Correct. Those cars on the lot are called floor plan cars. They are owned by the manufacture (maybe bank). The dealer has to pay interest each month they have a car. This is their incentive to sell cars on the lot before the beginning of the next month to avoid paying more interest.

 

[amcnj]

FYI if anyone is looking for a Ford product, at least in my area they are advertising 0% interest for 72 months and a $1000 bonus. Plus there are some other cash incentives, like $500 for college student/graduate that might apply.