If there’s one thing almost everyone can agree on, it’s this—you don’t want to pay more for a car than you absolutely have to. That’s why, in addition to getting pre-approved for an auto loan and setting a firm limit on how much car you can afford, you’ll also want to make sure you buy your car at the right time.

Believe it or not, there are certain times when you can get a better deal on a car than others. When you know what these times are, you can use that information to help you get the best possible deal.

When is the best time to buy a car?

End of the Month

Almost all auto dealers have quotas they need to meet. Most of the time, these are monthly quotas. What this means is that if you start looking for a car closer to the end of the month, dealers may be more open to negotiating on the price, or even adding incentives to make a sale.

Apply for an auto loan at First Alliance Credit Union

When Manufacturers Roll out New Models

Another good time to buy a car is when manufacturers start shipping out new models. As these new models arrive, dealers need to make space for them on their lots by selling the older models. This gives car buyers an advantage.

If you don’t absolutely need the latest and greatest model with all the bells and whistles, you can potentially get a great price on the older models. You might even try to buy these older models at the end of the month to get an even better deal.

During Seasonal Promotions and Holidays

Everyone’s seen and heard dealerships pushing sales during many holidays including:

• Labor Day
• Memorial Day
• Black Friday
• President's Day
• Independence Day
• Christmas

While you need to be especially careful to make sure dealers don’t tack on any hidden costs, all these holiday sales can be an excellent time to buy a car at a discount. You might even be able to get a limited-time incentive from the manufacturer, such as a cash-back offer or getting an auto loan at a lower interest rate.

When you Notice Favorable Market Conditions

If you’re really serious about getting the best possible price for a car and don’t mind putting in some extra work, you can monitor the market conditions to help you time your next car purchase. For instance, if you come across some news that says a particular car model is experiencing low demands, you might be able to visit a dealership selling that model to negotiate a better price so they move some product.

Before you Need One

The best time to buy a car, though, isn’t on some day of the week or time of month. It’s before your current car has a major breakdown. If your car dies on you unexpectedly, you’re not going to need to worry about how to get a good deal on a car because you’ll be too concerned with getting a replacement car as soon as possible.

Ideally, you should start saving for a car immediately after you’ve just bought one. This might seem a little extreme, but let’s face it—you will need to get a new car eventually. The sooner you start saving, the less you’ll need to borrow when you start shopping for a new car, and the less debt you’ll have to take on.

If you can’t start saving for a new car immediately, at least try to plan ahead as much as possible. Start putting money in your savings account for a car at least a year in advance, and make sure you have enough money in your emergency fund to cover any repairs you might need until you’re ready to buy.

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Get a Good Deal on a New Car With First Alliance Credit Union

When you’re buying a car, timing is everything. If you can manage to buy a car at the right time, such as at the end of the month or when manufacturers ship out new models, you may be able to get a good deal on a car.

You can also increase your chances of getting a good deal on a car when you become a member of First Alliance Credit Union and apply for a pre approved auto loan. This not only shows dealerships you’re serious about making a purchase, it also lets dealers know you have a firm limit on what you can spend. Once you do buy a car, you can easily pay off your First Alliance auto loan using our online banking system and mobile app.