Is buying a car on the day of month best time?

[roadman65]

I was told dealers are over anxious to get rid of stock on the last day of each month. So many are offering good deals including lower monthly payments. So I was wondering if that helps the consumer more buying an auto than at other times?

[J N Winkler]

I have heard the same thing about dealers being anxious to unload unsold stock.  OTOH, there are often reasons the stock sits on the lot without attracting punters, and if the four-square system is in play (meaning trade-in and financing is up for negotiation), the dealer can still make out like a bandit.

[NJRoadfan]

Most every dealer out there "floor plans" their unsold car inventory. Basically they pay a percentage of the car's price (finance) to hold the inventory on their lot. They want to move cars because it costs them money every day it is sitting there unsold. There is one dealer that I know of locally that somehow purchases all their inventory, but it is extremely rare.

[GaryV]

At least in the past, dealers got incentives from the company if they made certain sales quotas. If they were near the quota at the end of the month, the might be more willing to seal the deal. I don't know if the same quota system exists today (I early retired from Chrysler over 15 years ago).

It also might depend on how much inventory they can get - recently, cars were in short supply due to the chip shortage. And what the demand is at any given time.

[jeffandnicole]

The company, dealership, or individual salespersons may have certain incentives to get new cars sold by the end of the month, although how you make out depends on how substantial those incentives are.  Things like "we gotta sell 100 cars in 10 days" may be a lofty goal for some dealerships.  I go to a high-volume dealership where that would be below average (pre-pandemic, they had told me they sell about 400 cars per month). 

Also, don't get caught up in the hype.  If they tell you they're giving you another $500 off if you buy right now... is that a good deal, or did they just play with numbers so you're getting the same deal you would've gotten on the 9th of the month?

In the end, you may get a good deal. If you don't buy today, and buy on the 1st, guess what - they're 1 sale closer to their next month's goal.

[formulanone]

Typically, most dealerships close deals to accounting and report them the 3rd of the following month. Someone might want to be first on the board.

There's less crowds on a weekday, compared to a weekend. It's more a relaxed atmosphere and you might be able to hear yourself think.

Remember that these folks in sales practice every line and comeback, they've got lots of time on their hands.

You'll get one deal predicated on the purchase of another assumed package purchase, and take it away and scramble the numbers again and again to confuse you.

Don't hand over your keys until you're ready, don't be afraid to say NO and walk away. If they're desperate, they'll call you back.

For every "we don't have a document fee" lie, there's another upcharge baked into that final sales bill. Florida even tacks on a $1 charge for each tire and battery into the sale.

Best time to buy is when they have too many vehicles or too many of the same type, which doesn't follow any pattern. If you've driven by and they seem to have an pretty full overflow lot, maybe you're be onto something...or maybe not, they'll come up with an excuse. Challenge every reason and excuse.

[Scott5114]

Remember that these folks in sales practice every line and comeback, they've got lots of time on their hands.

Which is why I typically try and have some fun by throwing off-the-wall stuff at them that they have no answer to, like inquiring about a package deal for the car and the salesman's desk.

[formulanone]

Remember that these folks in sales practice every line and comeback, they've got lots of time on their hands.

Which is why I typically try and have some fun by throwing off-the-wall stuff at them that they have no answer to, like inquiring about a package deal for the car and the salesman's desk.

It's amazing how may deals get handshaked becuase someone really wanted a shirt or hat from the parts boutique.

Next time I go to buy a car, I'm going to back-charge them for taking a shower that day due to the costs and handling of (but not limited to): water, drainage, soap, shampoo, laundry, detergents, grooming tools, pressing items, labor, and quality control.

[Henry]

FWIW, I'd like to sit back and wait until the last weeks of the current model year, as you can get great discounts on the year-end inventory as opposed to spending more on a fresh one from the next year, especially if the newer models are redesigned.