When is the Best Time of Year to Buy a Truck?
Does timing matter when it comes to buying a new truck? The short answer is yes. While waiting for the right time to make your purchase can take some strategizing — and some patience — you could get a much better deal.
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Best Months to Buy a Truck
If you’ve seen the slew of car ads around the holiday season each year, you may already have an inkling that December is the best time of year to buy a truck.
Just like for most retailers, Black Friday is often a critical day for car dealerships. After Black Friday and through the end of the year, dealerships and their sales staff are looking to make quotas and maximize their annual bonuses. That can translate into better deals for you, especially if you do your research and play your cards right.
Dealerships want to close out their year with a higher number of overall sales compared to the previous year. That means December is crunch time to get their sales numbers up. They also want to be able to move the current year’s inventory out to make room for new models.
While December is usually the best time of year to buy, that doesn’t mean you need to wait 11 months if you start car shopping in January. There are some months that are better than others to buy.
In general, the most discounted months (in addition to December) are:
May: During the month of May, specifically around Memorial Day weekend, many dealers and car manufacturers run savings specials, in addition to other kinds of incentives, like financing deals.October: October tends to offer more wiggle room when you’re negotiating car prices. It’s close to the end of the year, and dealerships have an increased incentive to move current models off the lot to make room for new inventory. May through September: You might find better deals when you shop for a car or truck between May and September. Many car dealerships offer summer sales and savings events during this period.
Best Holidays to Buy a Truck
Holiday sales events are also a great time to buy a new truck. These sales are usually linked to discounts, as well as special financing and rebates. If you’re looking for an affordable vehicle, consider shopping around these holidays:
Memorial Day: Memorial Day is the jumping-off point for the summer season, and many dealers try to increase their sales volume during this time. 4th of July: Starting around the 4th of July, dealers start to see a larger mix of current models and next year’s models. Not only can you potentially get a great deal, but there will be more variety for you to choose from on the lot.Labor Day: Labor Day weekend is the sweet spot for both competitive prices and car selection. Even though you might save more making a purchase in December, you’ll probably have a wider selection of vehicles at this time of year.Veterans Day: In autumn, Veterans Day also offers great opportunities to find good deals on trucks. If you’re an active-duty military service member or veteran, you might be able to qualify for special discounts.Black Friday: Get ready for Black Friday and December savings by doing your research in advance and figuring out which model you’re interested in so that you’re prepared to take advantage of the best deals.New Year’s Eve: You might be able to lock in a great deal on a car around New Year’s Eve. It’s usually last day for sales teams and dealers to make their annual quotas.
Before you head to the dealership, consider working with your bank or credit union to get preapproved for an auto loan. You should also estimate what your monthly payments will be so you can compare your preapproval to the dealership’s financing offers.
If you’re looking to trade in your current vehicle, do some research to determine your vehicles’ value and figure out whether you can get a better deal through a private sale.
Best Days of the Week to Buy a Vehicle
Most dealerships are open all week, or at least six days a week, and the day you buy a vehicle could make a big difference. The busiest days of the week at dealerships are weekends since more people have these days off.
On the weekends, salespeople often juggle multiple buyers, and you might spend a long time in the finance office. However, some dealerships close their doors on Sundays, so Monday can get pretty busy, too.
If you’re looking at a dealership that’s closed on Sundays, opt to go on a Tuesday or Wednesday so you have more time to ask questions.
Finance & Insurance Editor
Elizabeth Rivelli is a freelance writer with more than three years of experience covering personal finance and insurance. She has extensive knowledge of various insurance lines, including car insurance and property insurance. Her byline has appeared in dozens of online finance publications, like The Balance, Investopedia, Reviews.com, Forbes, and Bankrate.
