Hurry: This Weekend Is the Best Time of the Year to Buy a Car
Considering springing for a new set of wheels? You're in luck—we're approaching the best time of the year to do it!
Labor Day weekend may not be everyone’s favorite time of the year. It signals the end of summer vacation, the beginning of the school year, and the lead-up to several months of cold weather. But there are some upsides to the holiday weekend. For instance, if you’re of the opinion that fall is the best of all the seasons, Labor Day is something to celebrate. And then there are the sales—in addition to these things that go on super sale over Labor Day, the weekend is also a great time to buy a car.
Car buyers have a few different things going for them should they choose to buy a car over Labor Day. For one thing, most car sales experts agree that car prices drop at the end of the month, period. The car salespeople need to hit sales quotas, so they might be more willing than usual to sell cars for lower prices. Since Labor Day weekend coincides with the end of August, that’s one thumbs-up for car buyers.
Another is pretty self-explanatory: the sales. Just like Memorial Day, Presidents’ Day, and Thanksgiving, Labor Day is a prime time for promos. In 2019, Honda, Lexus, and Nissan are just some of the car companies holding Labor Day sales, and Toyota is ending its August Sales Event.
Most importantly, Labor Day coincides with a significant time of the year for car sellers. It’s the time car manufacturers start rolling out the new models for the upcoming year. And while this is like Christmas for many a wealthy car fanatic hoping to be the first to get their hands on brand-new models, bargain shoppers can also get great deals on the newly “outdated” models from the current year. The price drops on the unsold cars from the ending year’s model. Spoiler alert: That’s still a super-new, state-of-the-art car! Learn more about what happens to cars that don’t sell.
Of course, there’s no need to beat yourself up if you don’t end up buying a car this weekend. While Labor Day is good, it’s just one of many good times to buy a car throughout the year. For instance, there’s a best time of the week to buy a car, and Bankrate actually believes that the end of the year as a whole—October, November, and December—will be a great time to buy a car this year. Car dealerships must meet yearly quotas in addition to monthly ones, and they’ll probably be more open to selling cars for lower prices. So Labor Day is a great weekend to buy a car that also ushers in a prolonged great time to buy a car. Learn more about how to score a good car deal with these tips car dealers won’t tell you.