The best time of year to buy a car
When you’re shopping for your best deal on a car, timing matters.
Vermont sees the biggest seasonality in car buying. Car buying in the Green Mountain State is 30% above average in March and 33% below average in December.
December is the best time to buy. For a $25,000 loan with a five-year repayment at an APR of 8%, just a 1 percentage-point reduction would save you $743 in overall interest payments.
But even if you can’t wait for December, understanding seasonal trends could still help you time your purchase to get a better deal.
While APRs change from month to month, it’s important to note that they don’t typically fluctuate a ton over the course of a calendar year
According to LendingTree metrics, car purchases nationwide hit their peak much earlier in the year in March, followed by May.
Vermont sees most seasonality in car buying, while Alaska sees the least seasonality
Consider some of these methods for finding your best deals: - Get preapproved first. - Look for rebates. - Shop during the holidays. - Labor Day or Memorial Day.
Swipe up for more interesting finds!