Top Auspicious Dates for Buying A Car in 2022

Best time of the year to buy a car

End of the month

When the month is coming to an end, dealers might be a few cars short of a sales quota that would win them a big bonus. Salespeople will have more motivation to make a deal with a buyer and might deeply discount cars, making up any money lost with the bonus. This is the time when you shouldn't sleep on the car deal. Keep in mind, however, that if the sales team met its quota earlier that month, salespeople may not be as motivated to give you the screaming deal you might be expecting. This is difficult to know ahead of time. But if you're in the midst of negotiating and the dealer offers you a super-low price, take a moment to ask your salesperson why the dealer is willing to potentially lose money on this sale. If the reason makes sense to you, and the price is considerably better than your research says it should be, it could be a sign the dealer is trying to make a sales goal.

If you're feeling nervous about buying in a short end-of-month timeframe, test-drive the car in which you're interested earlier in the month and close the deal as the end of the month approaches. Also, many new-car incentive offers are good for a few days after the month ends, which gives you a bit of a buffer.

End of the calendar year

If your primary objective is to buy or lease a new car at the best price possible, Edmunds data indicates that December's year-end sales events will give you a "perfect storm" of savings.

You should look for a vehicle from the outgoing model year that has generous incentives. According to Edmunds data, December has the year's highest discount off MSRP — 6.1% on average — and the highest incentives. Automakers and dealerships want to close the year with strong sales. They also want to get rid of the prior model-year cars that are taking up space, so they're motivated.

Each manufacturer handles the selldown differently. So some car dealerships will have a better selection of outgoing-year vehicles late in the year, while the pickings could be slim at others. Be sure to check Edmunds' Incentives and Rebates for customer cash rebates, low-interest incentives and lease specials.

How to Buy a Car

1. Research vehicles and features.

2. Get preapproved for a loan.

3. Plan your trade-in.

4. Locate and test-drive the car.

5. Check sale price and warranties.

6. Review the deal and dealer financing.

7. Close the deal.

8. Take delivery.