Does timing matter when it comes to buying a new truck? The short answer is yes. While waiting for the right time to make your purchase can take some strategizing — and some patience — you could get a much better deal.
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Best Months to Buy a Truck
If you've seen the slew of car ads around the holiday season each year, you may already have an inkling that December is the best time of year to buy a truck.
Just like for most retailers, Black Friday is often a critical day for car dealerships. After Black Friday and through the end of the year, dealerships and their sales staff are looking to make quotas and maximize their annual bonuses. That can translate into better deals for you, especially if you do your research and play your cards right.
Dealerships want to close out their year with a higher number of overall sales compared to the previous year. That means December is crunch time to get their sales numbers up. They also want to be able to move the current year's inventory out to make room for new models.
While December is usually the best time of year to buy, that doesn't mean you need to wait 11 months if you start car shopping in January. There are some months that are better than others to buy.
In general, the most discounted months (in addition to December) are:
- May: During the month of May, specifically around Memorial Day weekend, many dealers and car manufacturers run savings specials, in addition to other kinds of incentives, like financing deals.
- October: October tends to offer more wiggle room when you're negotiating car prices. It’s close to the end of the year, and dealerships have an increased incentive to move current models off the lot to make room for new inventory.
- May through September: You might find better deals when you shop for a car or truck between May and September. Many car dealerships offer summer sales and savings events during this period.
Best Holidays to Buy a Truck
Holiday sales events are also a great time to buy a new truck. These sales are usually linked to discounts, as well as special financing and rebates. If you’re looking for an affordable vehicle, consider shopping around these holidays:
- Memorial Day: Memorial Day is the jumping-off point for the summer season, and many dealers try to increase their sales volume during this time.
- 4th of July: Starting around the 4th of July, dealers start to see a larger mix of current models and next year’s models. Not only can you potentially get a great deal, but there will be more variety for you to choose from on the lot.
- Labor Day: Labor Day weekend is the sweet spot for both competitive prices and car selection. Even though you might save more making a purchase in December, you'll probably have a wider selection of vehicles at this time of year.
- Veterans Day: In autumn, Veterans Day also offers great opportunities to find good deals on trucks. If you’re an active-duty military service member or veteran, you might be able to qualify for special discounts.
- Black Friday: Get ready for Black Friday and December savings by doing your research in advance and figuring out which model you're interested in so that you're prepared to take advantage of the best deals.
- New Year's Eve: You might be able to lock in a great deal on a car around New Year’s Eve. It’s usually last day for sales teams and dealers to make their annual quotas.
Before you head to the dealership, consider working with your bank or credit union to get preapproved for an auto loan. You should also estimate what your monthly payments will be so you can compare your preapproval to the dealership's financing offers.
If you're looking to trade in your current vehicle, do some research to determine your vehicles' value and figure out whether you can get a better deal through a private sale.
Best Days of the Week to Buy a Vehicle
Most dealerships are open all week, or at least six days a week, and the day you buy a vehicle could make a big difference. The busiest days of the week at dealerships are weekends since more people have these days off.
On the weekends, salespeople often juggle multiple buyers, and you might spend a long time in the finance office. However, some dealerships close their doors on Sundays, so Monday can get pretty busy, too.
If you're looking at a dealership that's closed on Sundays, opt to go on a Tuesday or Wednesday so you have more time to ask questions.
Elizabeth Rivelli is a freelance writer with more than three years of experience covering personal finance and insurance. She has extensive knowledge of various insurance lines, including car insurance and property insurance. Her byline has appeared in dozens of online finance publications, like The Balance, Investopedia, Reviews.com, Forbes, and Bankrate.
FAQs
May through September: You might find better deals when you shop for a car or truck between May and September. Many car dealerships offer summer sales and savings events during this period.
What time of year are vehicles cheapest? ›
In terms of the best time of the year, October, November and December are safe bets. Car dealerships have sales quotas, which typically break down into yearly, quarterly and monthly sales goals. All three goals begin to come together late in the year.
What day of the year is best to buy a new truck? ›
Best Times to Buy a Truck:
- Tuesdays and Wednesdays.
- End of the month.
- May through October.
- Holidays: Memorial Day, Labor Day, Veterans Day, Presidents Day, Black Friday, & New Year's Eve.
- Before new model debuts.
- End of the year.
Experts say that 2024 will be the best year to purchase a new car since 2019. As interest rates slowly drop throughout the remainder of the year, payments will become more manageable. Don't overlook manufacturer rate promotions, as they can save you thousands of dollars.
What is the cheapest month to buy a new car? ›
December has the highest discounts from the manufacturer's suggested retail price (MSRP) for both new and used cars, according to Edmunds transaction data. However, if you need a car in March, we don't recommend waiting for the entire year. There are great deals out there regardless of the time of year.
What is the best day of the week to buy a truck? ›
Best Day To Buy a Car: Tuesday
“Mondays and Tuesdays tend to be less busy as many people are occupied with work and other weekday commitments. By visiting the dealership on these days, you're more likely to receive prompt attention from salespeople and have more negotiating power.
What not to say to car salesman? ›
Eliminating the following statements when you buy a car can help you negotiate a better deal.
- 'I love this car! ' ...
- 'I've got to have a monthly payment of $350. ' ...
- 'My lease is up next week. ' ...
- 'I want $10,000 for my trade-in, and I won't take a penny less. ' ...
- 'I've been looking all over for this color. '
According to iSeeCars.com, January and February are typically months with the most discounts available, while data from Edmunds.com ranks January and February among the months with the smallest discounts.
Do car dealers negotiate anymore? ›
As independent franchises, dealers can sell the car at any price. Some dealerships and brands have developed no-haggle pricing. The price on the window is the price of the car, they say. In most cases, you'll still need to negotiate the value of your trade, the cost of financing and the price of any add-ons.
When buying a used truck What mileage is best? ›
For used trucks with gas engines, try to keep the mileage under 100,000 miles. Used trucks with a diesel engine can go a good deal further since diesel engines are easier to maintain than gasoline. 200,000 miles in a diesel engine is about the same wear and tear as 100,000 is for gas.
Most Reliable Trucks Compared
| Truck | Model Years to Look for | Reliability Score |
|---|
| Chevrolet Silverado 1500 | 2010–2011, 2013–2015, 2018–2021 | 3.5/5 |
| Ford F-150 | 2007–2008, 2017–2020, 2012–2014 | 3.5/5 |
| Ford Ranger | 2007, 2009–2010, 2020–2022 | 4/5 |
| GMC Canyon | 2009, 2012–2014, 2019–2020 | 4/5 |
7 more rowsOct 11, 2023
Trucks Have More Longevity Today
This means that when you purchase a modern truck, you can expect it to last for at least 10 years and 100,000 miles. With proper maintenance, you can extend those marks significantly, with the average truck being nearly twice as likely to last for 200,000 miles as the average vehicle.
Should I wait till 2024 to buy a truck? ›
Now, however, may be the right time to upgrade that older model, industry watchers say. "2024 is probably the best year since the pandemic to buy a new car," Mark Schirmer, director of industry insights at Cox Automotive, told ABC News. "2021 and 2022 were really difficult years.
Will cars get cheaper in 2024? ›
Car Prices Will Likely Continue To Decrease
“Last month, the average price for a new vehicle was [$47,936] — a [1.4%] dip from last year, according to the latest KBB data. This suggests that new car prices might drop in 2024.” One factor that could lead to price drops is an oversupply of new cars.
Will auto rates drop in 2024? ›
The lowest auto loan rate in 2023 was 6.15 percent for a four-year used car loan in mid-January. Bankrate's expert predicts five-year new car loan rates will reach an average of 7.0 percent and four-year used car loans, 7.5 percent by the end of 2024.
What time of year are moving trucks cheapest? ›
If you are moving in late fall, winter or early spring, you'll have access to the cheapest moving truck rates.
What is the best month to buy a Ford truck? ›
This annual institution takes place all over the country in February and March. Ford Truck Month is a time of year when the legendary auto manufacturer offers Ford incentives and the most significant savings to customers. During the two months, buyers will get the most vigorous warranties and the best financing.
What truck has the most rebates? ›
Best Truck Finance and Cash-Back Offers
The 2024 Chevy Silverado 1500 and GMC Sierra 1500 boast $2,750 cash back in certain markets, while the 2024 Ram 2500 is sweetened with a $3,000 discount. The biggest discount by far is the $12,500 cash-back deal on remaining 2023 Ford F-150 Lightning models.
Will auto prices go down in 2024? ›
Car Prices Will Likely Continue To Decrease
“Last month, the average price for a new vehicle was [$47,936] — a [1.4%] dip from last year, according to the latest KBB data. This suggests that new car prices might drop in 2024.” One factor that could lead to price drops is an oversupply of new cars.
