I figured this may be a good place to ask, but generally when are sales events held? I know there is New Years, and End of the Year, maybe 4th of July?
I'm having some tough times car shopping (I was just jerked around by two dealers last weekend 
), and its hard to find a fair deal from the dealerships.
I just want to keep my eyes open for whenever there may be another sales event. And... because I know its coming, yes I know these "sales events" can be gimmicky, but due to time I will be missing out on Hert'z $1,000 off Memorial Day sale (on top of their already lower market value prices).
From my expereince, between Memorial Day through Labor Day are the best times to buy a car because the dealers are trying to make room for the new models. I'll hear what other posters have to say...
2010: 475 EQ 2011: 503 EQ 2012: 600 EQ2013:632 EQ
I would say any time is a good time. If a dealer wants to close a deal, they will make you a good deal.
Just do some research. I just posted this, it might be helpful http://ficoforums.myfico.com/t5/Auto-Loans/USAA-Car-Buying-Service-and-car-buying-advice/td-p/216130...
My neighbor is a car salesman and he told me that the last day of the month is the best time, since they need to hit manufactures sales goals. They tend to give more wiggle room to close the deal.
@CREDITSURFER wrote:My neighbor is a car salesman and he told me that the last day of the month is the best time, since they need to hit manufactures sales goals. They tend to give more wiggle room to close the deal.
Yeah, end of year too if you can wait that long and don't mind "last year's" model in my experience.
When buying old models, just keep in mind they will have the resale value of a car one year older.
@Dustink wrote:When buying old models, just keep in mind they will have the resale value of a car one year older.
Same as virtually any car you drive off the lot; non-trivial amount of resale value is determined by number of miles on car anyway.
@bahbahd wrote:
@Dustink wrote:When buying old models, just keep in mind they will have the resale value of a car one year older.
Are you saying, while sitting unsold on a lot, a new car has already depreciated as much as the same make/model/year that was bought one year prior?
Yes, pretty much. A 2012 sitting on the lot in 2013 will be worth as much as a 2012...It is a good way to save money in this competitive used car market.
Aside from the lack of miles, but miles aren't factored as heavily as you might think. A few cents per mile.
For example. Somebody bought a car off the lot early 2012 and drives it 500 miles per month. Somebody else buys the same type of vehicle mid-2013 and drives it 2000 miles per month. After a few month's the cars will be worth the same amount of money. The next buyer will not care when the vehicle was purchased new, all they care about is condition and mileage. The buyer in 2013 likely got a better price because the vehicle had already depreciated, while the buyer in 2012 was able to enjoy the vehicle longer. Both vehicles suffered the same depreciation, just the dealer ate some of the depreciation on the 2013 sale.
It is just up to the buyer to decide. Do you want to have the latest and greatest model, or do you want to let the dealer eat some depreciation and have last years model. Just, when you go to sell it. You will have a vehicle that seems 1 year older than it really is. So, you will be selling a 2012 instead of a 2013. It may or may not make much difference. It just depends what your buying. For example, a subaru legacy is only about $100 difference between a 2011 and a 2012 for resale. So, if a buyer got more than $100 off by buying the last model, then they did well. Which, most likely they would have been able to get more like $3000 off. Other vehicles will have a larger spread.
Sometimes it is a good idea to buy an old model if you drive more than average. It will make it look like the car was not driven more than normal. Too many miles in such a short amount of time can be a negative to a potential buyer at resale.