Here’s a fun post for you. According to data from Truecar, presented in the nifty infographic below, the best month of the year to buy a new car is August, the best day of the week is a Sunday, and the best time of the month is in the first few days of the sales month (not the same as calendar month—who knew). That makes this Sunday the best day of the year to buy a new car. Lucky you, if you are in the market for a new car.
What if you already have plans this Sunday? No need to panic.
Saturday is the second best day of the week to buy a new car. And when I say car, I really mean vehicle. Because as you will note in the inforgraphic below, the data is broken down by vehicle type.
If you are in the market for a subcompact (yes, people really buy these cars) December is the best month of the year to buy. If you want something more refined, say a BMW 5 series, I’m sorry to break the news to you. You missed your window of opportunity. July was the month of maximum savings on a new luxury car.
There’s always next year!
The good news is, if you are willing to make a “sacrifice,” you still have time to buy a new BMW Z4 (luxury sports car) or an X5 (luxury SUV).
Happy car shopping!
Jeremy Jones, CFA
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