Best time to buy a new car?

[pinkxray]

I am in the savings stage and looking to buy a new car maybe next year? I am mostly interested in a Toyota Rav4 but will look into similar size SUVs like Hyundai Santa Fe, Honda CRV,etc (love any reviews you guys might have)

If I end up buying it new, is there a better time of year to do so? Maybe when the new models come out?

We haven't decided between new or maybe a year or two old? DH likes the savings of used but I always say I like to know where my car has been. (DH gives me this look when I say that ) Every used car DH has had has always had some issue we didn't know about, and I will mostly likely have the car for at least 10 years or so.

Thanks for any advice.

 

[Shelly F - Ohio]

August is a good time to buy because the new model years come out and they need to get rid of the prior year models. So in August you should see some good deals on 2012 so they can make room for the 2013.
Just remember what you might save on the purchase of a SUV will be spent on putting gas in the tank. Just because it says on the sticker you will get 27 mpg on the highway you more than likely will only get 24!
I would go with the Toyota. They are so dependable and hardly break down. My husband has had two Toyota and put over 140,000 miles on both and only put tires on the car and did the regular maintinence stuff oil, coolant, transmission flushes.

 

[mellvswdw1]

Pinkxray...I sold new cars for 9 years before I began a new career. Personally, I think the week in between Christmas and New Years was the best time to buy a new car. You are getting a double dip. It is the last part of the month and the end of the year. I always called it the 13th month. I sold 15 cars one time during the 13th month! If you decide to buy at that time you need to buy what is on the lot, no special orders and typically no dealer trades to get the best deal.

As far as buying a two year old car, I totally understand. I used to tick off the Used Car Manager all the time when I was showing used cars, as I was the worst critic! I do believe that you need to do your homework, and decide what is best for your budget. You need to find out where the vehicle came from. Always ask for a carfax, and where the car was titled first, second, etc. The title will tell you if it came from a person or a rental car company. I would also ask if the car was serviced at the dealership, and ask for the service records. A lot of people will tell you that you need to buy used because the worst depreciation happens in the first two to three years. However, I like knowing that I am the "first" to own my car. Maybe not the best fiscal decision, but I feel better!

Good luck in whatever you choose.

P.S. I sold Toyota's so pick the Toyota!

 

[Aristocath]

Pinkxray...I sold new cars for 9 years before I began a new career. Personally, I think the week in between Christmas and New Years was the best time to buy a new car. You are getting a double dip. It is the last part of the month and the end of the year. I always called it the 13th month. I sold 15 cars one time during the 13th month! If you decide to buy at that time you need to buy what is on the lot, no special orders and typically no dealer trades to get the best deal.

We are also buying a car this year and my husband researched this and he found the best time to buy a car is the week between Christmas and New Years. So we are going to try and hold out until then. I don't mind; I love my suburban but we will replace it with something smaller and more energy efficient.

 

[powellrj]

I would love to buy a car sometime because I want to, not because I need to buy one now!! The last 2 cars we bought were because someone hit and totaled our cars and we had to replace them NOW!

We just bought a new one last week and found that used cars are expensive! Our plan was to buy a used car for DH to drive until November or December when DD gets her DL and give her that car and buy me a new one. After 2 weeks of looking everyday, we found a much better deal on a new car when you added the rebates in.

We seem to buy cars pretty often and have found a dealer we like to deal with. While we could do better if we looked longer, like I said we usually need to buy a car NOW and always feel like we do well with this dealer and they seem happy to deal with us since we drive a distance to get there and don't use our local dealership. I never felt like our local dealership treated us fairly.

 

[amcnj]

The best time can also vary by model. That is, whenever a certain model is not selling as well there may be more incentives offered to purchasers. I have also seen some short-term incentives such as an auto show discount that is offered for a few weeks when the auto show is in a nearby city. If you wait for end of year /end of model year type sales, be aware you are usually limited to inventory on hand so may not get exactly what you are looking for. However, if you don't have rigid make/model/options/color/etc requirements then that strategy might work out for you. Just make sure to check websites to find all the current incentives available. I have found that if you don't you might not be offered all you are entitled to. I once even had a dealer ask me what incentives I was aware of!

 

[Gumbo4x4]

I've made my best deals on new vehicles late in the year (Nov & especially Dec). In some cases buying leftovers of last year's model, in others buying the current one. My dad always tried to buy the first week of January to avoid one year of personal property tax

 

[Angrypenguin]

I agree, at the end of the year is probably the best time to buy a car, since both dealers and the car companies themselves are trying to rack up numbers. Also, late summer during the model-year switch out is pretty good too, although it varies from manufacturer to manufacturer when the switch outs occur.

Make sure to check truecar.com and browse internet forums to learn what the prices are going for on the car you want. Good luck! What are you thinking of getting?

Edit: Just saw that you're looking at small suvs. My neighbor got himself a Chevy Equinox that he's in love with, so it might be worth checking out!

 

[Kathi OD]

I'll add my voice to the last week of the year. Some manufacturers and dealers offer cash incentives to their employees that make it worth their while to give better than normal deals to well-qualified buyers.

 

[crjack]

I agree that it can vary by model. Over the last two years we have purchased new Honda's and both times we decided to take advantage of some great specials on the two models.

We had been casually looking to replace our older Honda & Toyota. We use to always buy newer "used" vehicles but we have found that Honda & Toyota can hold their value to the point where it doesnt always make financial sense to buy used unless it's very used.

With both of our new Honda's (CRV & Pilot) we took advantage at various times with Honda deals that they typically havent offered as much in the past with 0.9% rates and great discounts.

Unless you are paying cash for the car, used car rates will typically be higher. For us, that combined with the discounts being offered it made more sense to go new, although it made me cringe I will admit.

I typically drive my cars for a long time or take DH's that typically has lots of highway miles. Now we have two teens in the mix but we are always concerned with the long term value & reliability of our cars.

 

[MSLRAC]

Pinkxray...I sold new cars for 9 years before I began a new career. Personally, I think the week in between Christmas and New Years was the best time to buy a new car. You are getting a double dip. It is the last part of the month and the end of the year. I always called it the 13th month. I sold 15 cars one time during the 13th month! If you decide to buy at that time you need to buy what is on the lot, no special orders and typically no dealer trades to get the best deal.

DH and I work in the automotive industry (him in sales, myself in finance) and I totally agree with you. That week between Christmas and New Year's is insane. We're trying to meet monthly and yearly goals set by our departments, dealership and manufactures so there are some ridiculous offers accepted just to get another one the books. DH had a record breaking December last year and 90% of his sales were from that week.

 

[mellvswdw1]

DH and I work in the automotive industry (him in sales, myself in finance) and I totally agree with you. That week between Christmas and New Year's is insane. We're trying to meet monthly and yearly goals set by our departments, dealership and manufactures so there are some ridiculous offers accepted just to get another one the books. DH had a record breaking December last year and 90% of his sales were from that week.

I concur about the 90%. I remember I would always get my panties in a bunch because I would have less then 10 cars out more like 5 before Christmas, and then BOOM the 13 month would arrive and I would salvage my month. Year after year, the 13th month never let me down!

OP...be flexible and buy at the end of the year....you and your salesperson will be a happy pair!

 

[Natalie's Mommy]

i have a honda CR-V and <3 it!

 

[johnmuller]

The best time to buy a new car hands down is when the next model year goes on sale. the first week a new model year comes out they try to sell the year before for many thousands less then sticker because the dealer needs to make room. so i would say wait a couple months will the 2013's comes out and buy a 2012 just keep an eye on the brand of car you want and what they come out with.

 

[DOREEN1779]

The best time to buy is at the end of the month. Towards the end of the month the dealership is trying to meet their goals and incentives. Often on that last day if they are short, you can get an awesome deal. August/ Sept is a great month for deals.

 

[dgr1973]

The best time to buy is at the end of the month. Towards the end of the month the dealership is trying to meet their goals and incentives. Often on that last day if they are short, you can get an awesome deal. August/ Sept is a great month for deals.

I agree with this. Last summer we bought a new car and it was the last Saturday in July and believe me the dealerships do NOT want you leaving without buying so they pretty much will do anything to get you in a new car! By the way we have the same name except I spell it Dorene

 

[Muushka]

Pinkxray...I sold new cars for 9 years before I began a new career. Personally, I think the week in between Christmas and New Years was the best time to buy a new car. You are getting a double dip. It is the last part of the month and the end of the year. I always called it the 13th month. I sold 15 cars one time during the 13th month! If you decide to buy at that time you need to buy what is on the lot, no special orders and typically no dealer trades to get the best deal.

As far as buying a two year old car, I totally understand. I used to tick off the Used Car Manager all the time when I was showing used cars, as I was the worst critic! I do believe that you need to do your homework, and decide what is best for your budget. You need to find out where the vehicle came from. Always ask for a carfax, and where the car was titled first, second, etc. The title will tell you if it came from a person or a rental car company. I would also ask if the car was serviced at the dealership, and ask for the service records. A lot of people will tell you that you need to buy used because the worst depreciation happens in the first two to three years. However, I like knowing that I am the "first" to own my car. Maybe not the best fiscal decision, but I feel better!

Good luck in whatever you choose.

P.S. I sold Toyota's so pick the Toyota!

Does buying a new VS buying used also need to take into account what type of car you are buying?

When we were in the market 6 years ago, we were looking at the Mazda 3. The pricing of the used was not that much less than the pricing of the brand new. It didn't make sense to us to buy a car that was say, 15 months old, 15K miles, to save $1000.00. So we bought new.

I found the same situation with my Nissan way back in the 90's.