Should You Buy a Car at the End of the Month?

End-of-Month Car Buying Quick Facts

• Buying a car at the end of the month is usually the best time to buy a new vehicle. 
• You can also try buying a car at the end of a quarter. 
• Shop for the car early in the month and buy it near the end of the month

If you’re interested in buying a car, you’ve probably heard that purchasing at the end of the month is a great time because dealers are usually looking to meet goals. You might get a better deal as a result. Is this line of thinking really correct? We’ll explain.

• Usually, It’s True
• Last Day Only?
• Exceptions
• Shop Early, Buy Late

Usually, It’s True

In general, the end of the month is, indeed, the best time to buy a new car from a dealership. Even better, you might consider buying a car at the end of a quarter — either March, June, September, or December. In those cases, you might get even more savings than you would from simply buying at the end of the month.

Why is the end of the month such a good time to buy? It all comes down to dealership goals. In general, most automakers set sales goals for dealers, and most dealers set similar goals for themselves. Often, these goals include high-dollar bonuses if they’re met. That’s a big incentive for dealers or salespeople who close extra sales at the end of a month or quarter to help reach a goal.  

Last Day Only?

Interestingly, our advice doesn’t apply solely to the very last day of the month. If a dealer is closing in on a goal several days before the month’s end, that dealer may start giving better deals than usual in those last few days. Additionally, the very last weekend of the month tends to see similar deals to the last day because dealers look at the final weekend of each month as one last push to get extra sales before the month ends. (Weekends tend to be busier than weekdays for car dealerships.) As a result, you might not need to visit a dealer to buy a car on the very last day of the month. The last few days or the last weekend may suffice.

Exceptions

There are, however, some situations in which buying a car at the very end of the month won’t get you the best deal possible. Our best example is when a dealership has reached its monthly sales goal. In that case, the dealership probably won’t discount a car as much because it doesn’t need the sales so badly. If you’re especially focused on the bottom-line price and the dealer you’ve visited isn’t meeting your terms, you may want to try another dealership before the month ends.

Shop Early, Buy Late

Because the end of the month is the best time for a good deal, we typically recommend that shoppers follow a simple strategy when buying a car: Shop for the car early in the month and buy it later in the month. In other words, get your test drives out of the way early on and begin narrowing your list by the end of the month. When the last few days come around, revisit dealerships to start the final negotiating process.

Related Car Buying Articles:

• When Is the Best Time to Buy a Car?
• What Is a Doc Fee When Buying a Car?
• Can You Return a Car You Just Bought?

Editor’s Note: This article has been updated for accuracy since it was originally published.