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Valued Member
BrownSugah66
Posts: 43
Registered: ‎07-17-2011

October - Is this a good month for great new/used car deals??

[ Edited ]

Hi Everyone!

 

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!!  :smileyhappy:


Starting Score: 07/17/11 EQ FICO 616 TU FICO 619
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Regular Contributor
MsTucker09
Posts: 225
Registered: ‎02-16-2009

Re: October - Is this a good month for great new/used car deals??

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


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Mega Contributor
Creditaddict
Posts: 18,829
Registered: ‎10-23-2007

Re: October - Is this a good month for great new/used car deals??

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.

Fico Scores: EQ 639 Navy, TU 665 GE, EX 677 Prosper (07-09-14)
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Valued Member
BrownSugah66
Posts: 43
Registered: ‎07-17-2011

Re: October - Is this a good month for great new/used car deals??

Thank you MsTucker09!!!


Starting Score: 07/17/11 EQ FICO 616 TU FICO 619
Current Score: 09/27/11 EQ FICO 655 TU FICO 673
Goal Score: EQ FICO 700 TU FICO 700


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Valued Member
BrownSugah66
Posts: 43
Registered: ‎07-17-2011

Re: October - Is this a good month for great new/used car deals??

Thanks Creditaddict!  Great info!


Starting Score: 07/17/11 EQ FICO 616 TU FICO 619
Current Score: 09/27/11 EQ FICO 655 TU FICO 673
Goal Score: EQ FICO 700 TU FICO 700


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Established Contributor
guydiver
Posts: 534
Registered: ‎08-30-2007

Re: October - Is this a good month for great new/used car deals??

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.

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Valued Contributor
tooleman694
Posts: 2,296
Registered: ‎08-25-2011

Re: October - Is this a good month for great new/used car deals??

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..

Contributor
wwinter
Posts: 78
Registered: ‎05-26-2011

Re: October - Is this a good month for great new/used car deals??

Does this same logic apply to used cars on the dealers lots at the end of the year?  Thanks.

Established Contributor
guydiver
Posts: 534
Registered: ‎08-30-2007

Re: October - Is this a good month for great new/used car deals??

Mine was used, and to a dealer , a sale is a sale.
MyFICO Forums ROCK!! & . Been There, Done That. Never Going Back! Goal>>>> 800,800,800!

Starting Score: 1/05 upper 500's??Current Score: FICO: EQ 783, TU(98) 790, EX 814(Vantage) 779(CS) Goal Score: .....800 IS ON MY BUCKET LIST! EX ,BITE ME! .:smileyvery-happy:
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