I've been working hard on improving my credit health since the begginning of the year in preparation of purchasing a new or used car. Can anyone share their experience or knowledge with me as far as the best time of the year to get the best deals and interest rates on a new or used car?
Also, I live in Texas....any recommendations on lenders I should seek financing from based on my current FICO scores?
Thank you in advance for sharing!!
Ive heard the best time is like Nov/Dec because they are trying to liquidate their cars for the new year and alot of people are not shopping for a car because of the Christmas holiday. Thats when you get the best prices and interest rates
I tend to lean towards the best time is during the release of the next years cars if you are interest in a new car that is already almost a year old... except you missed that... so next best thing is usually the last day of the month but really these days I'm not sure how much better of a deal you can get (you are either good at negotiating or your not... just check kkb.com and they will tell you the sticker and what the dealer paid and what you could expect to pay, it's pretty accurate based on my experience of helping my parents by a new car last month.
Also what kind of car are you looking for, basically everyone is currently offering specials, it's just getting them to give you that rate if you are borderline.
Thank you MsTucker09!!!
Thanks Creditaddict! Great info!
We bought a car on Dec. 23. It was late in the day and my credit union would not be able to do the loan until after the holiday. The dealer was so intent on making the deal he got my wife financed on her own, and knocked another 2K off the price just so she would qualify. Best car deal I ever made.
You might still be able to find some 2011s around..
I am in Dallas and picked up a 2011 2 weeks ago, they only had a couple left on the lot..
Does this same logic apply to used cars on the dealers lots at the end of the year? Thanks.