Reply
Valued Member
Posts: 43
Registered: ‎07-17-2011
0

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
Current Score: 09/27/11 EQ FICO 655 TU FICO 673
Goal Score: EQ FICO 700 TU FICO 700


Take the FICO Fitness Challenge

Regular Contributor
Posts: 225
Registered: ‎02-16-2009
0

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


Starting Score: EQ 462 9/30/11
Current Score: TU 577 4/10/12 EQ 607 4/10/12 PLUS 627 4/10/12 Beacon 5.0 621 lender pull 4/13/12
Goal Score: 650


Take the FICO Fitness Challenge
Epic Contributor
Posts: 24,677
Registered: ‎10-23-2007
0

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- 670., TU 705 Sync, EX 728 SoFi(05/04/15)
I'm just trying to catch up to RON1
88 Cards and Counting :smileytongue:
Valued Member
Posts: 43
Registered: ‎07-17-2011
0

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


Take the FICO Fitness Challenge

Valued Member
Posts: 43
Registered: ‎07-17-2011
0

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


Take the FICO Fitness Challenge

Community Leader
Established Contributor
Posts: 909
Registered: ‎08-30-2007
0

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.


Starting Score: 500's
Current Score: 773 EQ(DCU), 757 TU(Barclay), 788 EX(Credit.com)
Goal Score:760 X 3


Take the myFICO Fitness Challenge

Valued Contributor
Posts: 2,300
Registered: ‎08-25-2011
0

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
Posts: 78
Registered: ‎05-26-2011
0

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.

Community Leader
Established Contributor
Posts: 909
Registered: ‎08-30-2007
0

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.

Starting Score: 500's
Current Score: 773 EQ(DCU), 757 TU(Barclay), 788 EX(Credit.com)
Goal Score:760 X 3


Take the myFICO Fitness Challenge

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.