If You Buy a New Car This Day of the Week, You Could Be Losing Thousands
Most car shoppers research which time of year is best for scoring deals. For example, discounts are usually plentiful in the late fall and early winter as dealers scramble to offload unsold inventory to make room for next year’s incoming models.
But how many buyers consider that one specific day of the week might be better than another?
The answer is probably not many, but they all should because, believe it or not, the day you buy or don’t buy a car matters — often to the tune of four figures saved or lost.
Everybody’s Working for the Weekend — Especially If They Work on Commission
While there’s some disagreement on a single best day to buy a car, it’s nearly universally accepted that the worst days to buy are on weekends. CarEdge concurred that Saturdays and Sundays are the most practical times to buy a car — for you and everybody else.
Dealerships are busiest on the weekends, so the power dynamic shifts in the salesperson’s favor and busy commission-based sellers are less likely to cut deals. One exception is certain three-day weekends, as dealerships frequently hold special sales events on some holiday weekends.
Midweek Is Your Best Bet
While Monday can be a good day to negotiate a deal, according to Edmunds, this rule does not apply if the dealership is closed on Sunday. CarGurus noted that many dealerships are bound by state law to take Sundays off and many in non-blue-law states voluntarily close on the weekend’s second day.
Therefore, the consensus is that Tuesday through Thursday mornings are the best times to shop for a car. Wednesdays typically see the least foot traffic, so dealers have both the time and the inclination to negotiate deals with serious and reasonable buyers.
Not All Wednesdays Are Created Equal
The same analysts agree that you’ll likely do best if you pick just the right kind of midweek day.
CarEdge reported that rain cuts foot traffic by 30% to 40% and late-month buyers generally hold more leverage because salespeople and dealerships rush to meet end-of-month quotas.
CarEdge also suggested shopping late in the day, when sales teams want to wrap things up and close shop, rather than stringing out the negotiation in their favor, which they have time to do with early birds.
So, while there’s no hard-and-fast best day/worst day rule that applies to all scenarios, your best odds in most cases are in the late afternoon on a rainy Wednesday toward the end of the month — particularly one near the end of the year.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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