Best Time to Buy a Car [Exact Day/Month to Save You $$$]

TL;DR

Learn the exact months and days to buy a car for a discount of almost 20% off the price and discover three negotiating hacks that will save you thousands.

Transcript

More than seven million Americans are behind on their car loans because they overpaid and can’t make their payments. In this video, I’m digging into the data to show you the exact months and days to buy a car for a discount of almost 20% off the price. I’ll also reveal three negotiating hacks that will make any car dealer cringe. We’re talking the ... Read More

Key Insights

• 😨 Car loans in the US have surged to over $1.27 trillion, with more than seven million Americans struggling to make payments.
• 😨 Sales of cars and light trucks have remained stagnant since 2015, causing car manufacturers to face financial challenges.
• 🙂 Weekdays offer slightly better discounts than weekends when buying a car.
• 👋 Late November and the months of October through February provide the best opportunities for negotiating a good deal.
• 🛒 Holiday sales in car dealerships are often deceptive, and better deals can be found by avoiding these peak shopping times.
• 😃 Financing is the biggest profit source for dealerships, so it's advisable to secure your own financing to avoid falling into their financing traps.
• 👋 Negotiating on everything, from extras to the price, is crucial for getting the best possible deal.

Questions & Answers

Q: Why is 2020 a great year to buy a car?

2020 is a great year to buy a car due to low sales and increased competition among car dealerships. Additionally, with interest rates heading lower, now is a favorable time to trade in your old car for a new one.

Q: When is the best time to buy a car?

Weekdays and the months of October through February offer the best discounts on car prices. Late November, specifically cold and wet weekdays, tend to have the highest potential for negotiating a good deal.

Q: Are holiday sales a good time to purchase a car?

Contrary to popular belief, holiday sales, such as President's Day or Memorial Day, are often a scam in car dealerships. These sales prey on the perception of offering huge discounts, but it's better to avoid these times when everyone else is out shopping.

Q: Should I buy a new or used car?

Whether to buy a new or used car depends on personal preferences. New cars offer reliability and comfort, while used cars are more affordable. Factors such as budget, desired features, and long-term use should be considered when making this decision.

Summary & Key Takeaways

• More than seven million Americans are behind on their car loans, highlighting the importance of getting the best deal when purchasing a car.

• 2020 is predicted to be a great year for car buyers due to low sales and low interest rates.

• The best time to buy a car is during weekdays and the months of October through February, with late November being the most favorable.